Apple Sales Crush Estimates on Surging Device Demand
- Revenue jumps 54% on purchases of Macs, iPads and iPhones
- Company’s board authorizes another $90 billion for buybacks
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Apple Inc. reported quarterly revenue that crushed Wall Street expectations, fueled by sales of the 5G iPhone 12 line and purchases of iPads and Macs as people continued to work and learn from home.
The Cupertino, California-based technology giant reported fiscal second-quarter sales of $89.6 billion, up 54% from the same period in 2020. Analysts, on average, estimated $77.3 billion, according to data compiled by Bloomberg. Profit was $1.40 a share, also easily topping Wall Street forecasts.