Apple Revenue Grew 11% In 2021, Beating Analyst Estimates And Supply Chain Issues

Apple has reported its largest single-quarter with respect to revenue, ever with sales skyrocketing over 11 percent even with the presence of supply chain issues and pandemic effects.

Reuters

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Reported first by CNBC, it did so well in fact, that it beat analyst estimates for sales in every product category, except iPads.

For the quarter that ended December 25, overall revenue was at $123.9 billion, compared to the estimates laid by analysts at Refinitiv, which was at $118.66 billion, up 11 percent year over year.

iPhone revenue was at $71.63 billion compared to $68.34 billion estimated by analysts -- up 9 percent year over year.

Revenue from its services was at $19.52 billion compared to the estimates of $18.61 billion -- a 24 percent year-over-year growth. Mac revenue sat at 10.85 billion compared to estimates of $9.52 billion -- around 25 percent year over year.

Other products revenue amounted to $14.70 billion vs 14.59 billion that was estimated by analysts -- a 13 percent year-over-year growth.

One product category that didn¡¯t really beat the estimates was the iPad which sat at $7.25 billion compared to the $8.18 billion estimates.

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Reuters

Cook also reported that the company¡¯s supply issues were improving. Cook highlighted that December was worse than September, however, he¡¯s hopeful that by the March quarter, situations could improve.

Cook said, ¡°Our biggest issue is chip supply, it¡¯s chip supply on legacy nodes, and we¡¯re doing okay on the leading edge stuff.¡±