Apple delivered its largest quarter by revenue of all time on Wednesday at $111.4 billion throughout its first quarter earnings report for fiscal 2021. It is the first time Apple crossed the symbolic $100 billion mark in an individual quarter, and sales were up 21 % year over year.

Apple stock dropped 2 % in extended trading.

Apple’s results for the quarter ending around December weren’t simply driven by 5G iPhone product sales. Gross sales for every product category rose by double-digit percentage points. Apple’s earnings per income and share handily beat Wall Street expectations.

Here is exactly how Apple did versus opinion estimates:

EPS: $1.68 vs. $1.41 projected
Revenue: $111.44 billion vs. $103.28 billion calculated, up 21 % year over year
iPhone revenue: $65.60 billion vs. $59.80 billion calculated, up 17 % year over year
Services revenue: $15.76 billion vs. $14.80 billion approximated, up 24 % year over year
Some other Products revenue: $12.97 billion vs. $11.96 billion estimated, up twenty nine % year over year
Mac revenue: $8.68 billion vs. $8.69 billion estimated, up 21 % year over year
iPad revenue: $8.44 billion vs. $7.46 billion estimated, up forty one % year over year
Gross margin: 39.8 % vs. 38.0 % estimated
Apple CEO Tim Cook claimed the results could have been a lot better if not for the Covid-19 pandemic and also lockdowns that forced Apple to temporarily shutter some Apple stores across the world.

“Taking the stores out of the equation, particularly for iPhones as well as wearables, there is a drag on sales,” Cook told CNBC’s Josh Lipton.

Cook said that Apple’s total install base for iPhones is more than 1 billion, up out of the previous information point of 900 million. The total energetic install base for those Apple products is actually 1.65 billion.

Apple didn’t provide official assistance for the future quarter. It hasn’t made available investors forecasts since the start of the pandemic.

But possibly the absence of direction could not diminish what was a blowout quarter for the iPhone maker. Apple has gained throughout the pandemic from enhanced PC and gadget sales as people who are working or perhaps going to school from home due to lockdowns look to update the devices they use.

Apple released new iPhone models in October. The 4 iPhone twelve designs are the first person to include 5G, which investors believed may possibly obtain a “supercycle” of users clamoring to upgrade. iPhone earnings was up 17 % from the same period last year.

“They’re filled with characteristics that clients really like, and they came in from precisely the best time, with where 5G networks were,” Cook said.

Apple’s other products category, along with Apple Watch and headphones like AirPods and Beats, was up 29 % from year which is last to $12.97 billion, actually as men and women are actually having to spend less time commuting and traveling. Apple released a high-end set of headphones, AirPods Pro Max, within December, with a sheer $549 suggested price.

macs and Ipads, the Apple devices most probable to be used for remote work and school, were furthermore up this kind of quarter. Apple released new Mac computers powered by its own chips rather than Intel processors in December to positive reviews which said they were better in phrases of strength as well as battery life to the older versions.

Apple’s services business, which the business enterprise has highlighted as a progress engine, was up 24 % year over year to $15.76 billion. That product category is a catch all: It contains the cash Apple creates as a result of the App Store, subscriptions to digital web site content such as Apple Music or perhaps Apple TV+, licensing costs paid by Google to generally be the iPhone’s default online search engine and AppleCare warranties.

Apple highlighted in its release that international sales accounted for 64 % of the company’s sales, up through sixty one % in the same quarter last year.

Just how brand new iPhone models fare inside China, the business’s third-largest sector, is actually a continuous theme of dialogue among investors. Revenue in what Apple calls increased China, which includes Taiwan and Hong Kong, were up nearly fifty seven % to $21.3 billion.

“China was strong across the board,” Cook claimed.

Apple even declared a money dividend of $0.205 cents a share and said that it’d spent more than thirty dolars billion on total shareholder return, including share buybacks, during the quarter. Apple’s first fiscal quarter is usually its largest of the season and also includes serious holiday sales at the time of December.

Wednesday’s blowout earnings are also a retrieval story for Apple. Two years ago, Apple warned that its projection for its holiday quarter sales have been lower compared to the company expected, a rare warning which raised questions about whether Apple was losing its momentum. On Wednesday, Apple showed that revenue is actually up over thirty two % since that report.