Apple earnings pop 11% to $123.9 billion; Cook states supply chain enhancing

Key points: 

• Apple declared its biggest single quarter in earnings ever, with sales increasing over 11% despite supply challenges and the lingering consequences of the pandemic.
• Apple topped analyst estimates for sales in each product category besides iPads.
• Apple CEO Tim Cook stated that the firm's supply problems were enhanced.

Apple's earnings surpass amid supply chain issues: 

ON THURSDAY, Apple CEO Tim Cook stated that the firm's supply chain challenges were enhancing, sending shares up nearly 5% in extended trading while having a substantial beat on revenues.

Apple surpassed analyst estimates for sales in each product category, excluding iPads, and overall income was up 11% yearly.

Here is how Apple did in the quarter completing Dec. 25 versus Refinitiv accord calculations:

• EPS: $2.10 vs. $1.89 predicted, up 25% year-over-year
• Revenue: $123.9 billion vs. $118.66 billion predicted, up 11% year-over-year
• iPhone revenue: $71.63 billion vs. $68.34 billion estimated, up 9% year-over-year
• Services revenue: $19.52 billion vs. $18.61 billion predicted, up 24% year-over-year
• Other Products revenue: $14.70 billion vs. $14.59 billion predicted, up 13% year-over-year
• Mac revenue: $10.85 billion vs. $9.52 billion predicted, up 25% year-over-year
• iPad revenue: $7.25 billion vs. $8.18 billion predicted, down 14% year-over-year
• Gross margin: 43.8% vs. 41.7% predicted

Apple again did not deliver official guidance regarding anticipations for the recent quarter. 

Since the beginning of the Covid-19 pandemic, Apple hasn't guided, noting delay.