Apple brought in a record-breaking $123.9 billion in revenue, despite supply constraints
Apple's revenue from iPhones this year, despite global supply constraints, is a notable jump from last year . Driven by the transition to its own M1 silicon chips, Mac revenues were up more than $2 billion compared to the year prior, hitting a record $10.9 billion.
"Wearables, Home and Accessories" — which includes Apple Watch, AirPods and HomePods — added another record-breaking $14.7 billion to the revenue sheet. Apple's services also contributed to its overall revenue, with products like TV+ and Fitness+ raking in a total of $19.5 billion — an increase of 24 percent from last year. Maestri noted that paid subscriptions continue to increase, with recent developments in Fitness+, Arcade and Apple Music contributing to the growth.
But not all products broke records this year. Net sales of iPads brought in $7.2 billion in Q1 2021, which is a 14 percent decrease year-over-year"due to very significant supply constraints," Maestri said. Investors will be happy to know that Apple's board of directors have declared"a cash dividend of 22 cents per share of common stock, payable on February 10th 2022." With supply chain issues and inflationary pressures impacting every business, Apple's results this quarter are surprisingly strong.
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