Far better than expected for Apple

Apple’s net profit in the third quarter of fiscal year 2021 ended at $ 21.7 billion.

After closing time on the New York Stock Exchange on Tuesday, Apple, the manufacturer of well-known products such as iPhone, iPad and Mac, presented the figures for the third quarter of the financial year 2021. The company’s financial year runs from October to September.

The quarterly report shows a turnover of as much as 81.4 billion dollars, which is a sharp increase from the same quarter in 2020, when the company had a turnover of 59.7 billion.

A turnover of 73.3 billion was expected in advance, according to Refinitv estimates.

Revenue growth was strengthened by almost 50 percent sales growth for iPhone products, which was far higher than expected.

Net income ended at $ 21.7 billion, up from $ 11.3 billion in the same quarter last year.

- Our record results for the quarter included new revenue records in each of our geographic segments and double-digit growth in each of our product categories, says Luca Maestri, Apple’s CFO.

- We generated $ 21 billion in operating cash flow, returned almost $ 29 billion to our shareholders during the quarter, and continued to make significant investments in the business to support our long-term growth plans.