Apple sees record revenue growth

Apple has posted record revenue growth in the first quarter of the fiscal year 2021, which for the first time exceeded $100 billion, Report informs referring to TASS.

According to the results of the three-month reporting period, which ended on December 26, 2020, the company’s revenue amounted to $111.4 billion, a 21 percent increase compared to the same period in the fiscal year 2020 when the company recorded revenues worth $91.8 billion.

Headquartered in Cupertino, California, the company’s net income also rose to $28.75 billion from $22.23 billion a year earlier.

Our December quarter business performance was fueled by double-digit growth in each product category, which drove all-time revenue records in each of our geographic segments and an all-time high for our installed base of active devices, Apple CFO Luca Maestri said in a statement.

The share of the company's international sales was 64 percent at the end of the quarter.

The company has a market capitalization of nearly $2.4 trillion.