NASDAQ$AAPL

Apple · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Revenue grew by 21 percent and EPS increased by 35 percent, reaching new all-time records.

Apple's Q1 2021 results showcased record revenue of $111.4 billion, a 21% increase year-over-year, and earnings per diluted share of $1.68, up 35%. The performance was driven by double-digit growth across all product categories and geographic segments.

  • Apple posted all-time record revenue of $111.4 billion, up 21 percent year over year.
  • Quarterly earnings per diluted share reached $1.68, a 35 percent increase.
  • International sales accounted for 64 percent of the quarter’s revenue.
  • iPhone, Wearables, and Services set new revenue records.

Headline financials

Total Revenue

$111B

Previous: $91.8B+21.4%
EPS (adj)

$1.68

Previous: $1.25+34.4%
Capital Expenditures

-$3.5B

Previous: -$2.11B-66.1%
Free Cash Flow

$25.3B

Previous: $20.1B+25.5%
Net Income

$28.8B

Previous: $22.2B+29.3%
Operating Income

$33.5B

Previous: $25.6B+31.2%
Gross Profit

$44.3B

Previous: $35.2B+25.9%
Cash & Equivalents

$36B

Previous: $39.8B-9.5%
Total Assets

$354B

Previous: $341B+3.9%
Stock-Based Comp

$2.02B

Previous: $1.71B+18.1%

Revenue & EPS history

Apple · Revenue · Quarterly

$111B

Q1 2021+21.4%vs Q1 2020
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Apple · $111B total across 5 segments · Q2 2026

  • Americas
    $45.1B
  • Europe
    $28.1B
  • Greater China
    $20.5B
  • Rest of Asia Pacific
    $9.14B
  • Japan
    $8.4B

Forward guidance

The press release contains forward-looking statements that involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements.

Headwinds

  • The effect of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, and stock price
  • The effect of global and regional economic conditions on the Company’s business, including effects on purchasing decisions by consumers and businesses
  • The ability of the Company to compete in markets that are highly competitive and subject to rapid technological change
  • The ability of the Company to manage frequent introductions and transitions of products and services, including delivering to the marketplace, and stimulating customer demand for, new products, services, and technological innovations on a timely basis
  • The effect that shifts in the mix of products and services and in the geographic, currency, or channel mix, component cost increases, increases in the cost of acquiring and delivering content for the Company’s services, price competition, or the introduction of new products or services, including new products or services with higher cost structures, could have on the Company’s gross margin

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

+1.2%

Avg return

Earnings day

+2.0%

Avg return

5 days after

+3.7%

Avg return

30 days after

63%

46 / 73 earnings

Positive

+11.8%

Q3 2020

Best reaction

-10.8%

Q1 2013

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026+5.4%+6.0%+15.0%
Q1 2026-0.5%+7.1%+2.3%
Q4 2025-4.9%-0.5%+2.7%
Q3 2025-3.8%+2.7%+11.8%
Q2 2025-3.8%-8.0%-5.8%
Q1 2025-0.7%-2.2%+1.8%
Q4 2024-3.1%-2.9%+3.1%
Q3 2024-1.0%-6.7%+3.1%
Q2 2024+8.3%+7.7%+13.6%
Q1 2024+0.8%+2.7%-2.6%
Q4 2023+1.5%+4.5%+9.9%
Q3 2023-5.5%-6.6%-1.6%
Q2 2023+3.7%+2.6%+8.1%
Q1 2023+6.2%+6.3%+3.9%
Q4 2022+4.3%+0.9%-0.8%
Q3 2022+3.6%+2.1%+4.4%
Q2 2022+0.7%+1.9%-4.4%
Q1 2022+6.7%+9.3%+3.2%
Q4 2021+0.6%+0.8%+5.3%
Q3 2021-2.7%-2.1%-1.0%
Q2 2021-0.7%-1.4%-7.3%
Q1 2021-4.2%-6.3%-15.3%
Q4 2020-2.1%-0.7%+4.8%
Q3 2020+11.8%+15.4%+31.3%
Q2 2020+0.5%+3.4%+10.5%
Q1 2020+5.0%+0.2%-11.5%
Q4 2019+2.3%+5.8%+9.8%
Q3 2019+1.6%-2.7%-0.3%
Q2 2019+2.9%+3.5%-12.9%
Q1 2019+5.7%+6.5%+10.8%
Q4 2018-5.2%-6.9%-18.4%
Q3 2018+6.1%+9.5%+18.5%
Q2 2018+6.8%+11.2%+13.1%
Q1 2018-4.1%-2.6%+5.2%
Q4 2017+3.4%+4.7%+2.5%
Q3 2017+5.6%+5.2%+10.3%
Q2 2017+0.3%+1.6%+4.5%
Q1 2017+5.9%+6.1%+14.2%
Q4 2016-1.7%-3.3%-5.5%
Q3 2016+5.8%+7.1%+10.5%
Q2 2016-6.9%
Q1 2016-6.0%
Q4 2015+3.5%
Q3 2015-5.2%
Q2 2015+0.2%
Q1 2015+1.9%
Q4 2014+4.9%
Q3 2014+3.5%
Q2 2014+6.8%
Q1 2014-7.2%
Q4 2013-1.8%
Q3 2013+3.3%
Q2 2013+1.7%
Q1 2013-10.8%
Q4 2012-2.1%
Q3 2012-4.8%
Q2 2012+6.7%
Q1 2012+4.5%
Q4 2011+1.7%
Q3 2011+2.7%
Q2 2011+3.1%
Q1 2011-2.4%
Q4 2010-0.9%
Q3 2010+2.8%
Q2 2010+8.9%
Q1 2009+4.1%
Q1 2010+4.1%
Q4 2007-5.0%
Q4 2009-5.0%
Q3 2009+4.3%
Q3 2008+4.3%
Q4 2008+4.3%
Q2 2009+4.3%

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