Apple services revenues

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. The first fiscal of 2021 marks the first time in nine quarters that Apple's Services segment increased revenue by more than 20 percent. Apple Music In Apple's quarterly earnings announcement on Jan. 27, the company announced Services revenue of $15.8 billion for the final three months of 2020, representing a 24% increase over the same period in 2019. "The steep integration of hardware, software and Services have always defined our approach here, and it has delivered an all-time quarterly Services record," Apple CEO Tim Cook said on the earnings call. "This was the first quarter of the Apple One bundle, which brings together many of our great Services into an easy subscription, and with new content being added to these services every day, we feel very optimistic … [Read more...] about Apple raked in record $15.8B in services revenue during Q1

AppleInsider breaks down every record Apple smashed in its gargantuan fiscal quarter ending in December 2020. Apple's first fiscal quarter was one to remember, breaking records left and right on its way to a staggering $111.4 billion in total revenue. While that number was the biggest takeaway, it was far from the only record the company shattered. Total revenue Apple brought in a staggering $111.4B in Q1 2021 During the 1Q 2021 financial quarter, Apple raked in $111.4 billion in total revenue. This is the first time the company has passed $100 billion for a quarter, breaking its previous record of $91.8 billion in the prior year's December-ending quarter. It's all the more surprising that Apple did this during a global pandemic, as many working families cut down on luxury purchases. Impressive iPad and Mac sales boosts may have partially reflected the greater need for work-from-home and Zoom-friendly computing devices. However, the iPhone continued … [Read more...] about Ten records Apple broke in its historic holiday 2020 quarter

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple earned $111.4 billion in revenue in the first quarter of 2021, blasting past the $100 billion barrier for the first time on double-digit growth across all product categories. Announced before the company's usual conference call with analysts, Apple's revenue of $111.4 billion for the quarter ending December 2020 represents growth of 21% on the $91.8 billion seen one year prior , itself a record-setting set of results. Earnings per share is set at $1.68, comparatively higher than the $4.99 seen in Q1 2020 before the four-way stock split . The gross margin of $44.3 billion is up from Q1 2020's $35.2 billion, while operating expenses are up/down year-on-year to $10.8 billion from $9.6 billion. Net profit is $28.8 billion, an improvement from $22.2 billion one … [Read more...] about Apple’s $111.4B Q1 shatters quarterly record with massive growth across all categories

Apple CEO Tim Cook on an earnings call Wednesday said that the company set a new record for the most FaceTime call volume during the holiday season. Apple broke a lot of records in the holiday quarter of 2020, from revenues to sales of different products to income from Services. It turns out the company broke another record over Christmas as it recorded the highest-ever volume of FaceTime calls. Cook, during Apple's quarterly earnings call, stated that "as COVID-19 kept us apart, we saw the highest volume of FaceTime calls ever this Christmas." It is unclear if "this Christmas" refers to Dec. 25, the surrounding weeks, or the entire holiday quarter. Cook did not specify an exact amount of FaceTime call volume. The record, though, is not surprising, especially with friends and family physically apart for the holidays last year due to coronavirus restrictions. In addition, as stated on the call, the install base for iPhone is the largest it has ever been, and Cook … [Read more...] about Apple broke record for FaceTime call volume over holidays

Morgan Stanley has raised its AAPL price target to $164 on blockbuster Apple December quarter results, and said that products like the iPhone could see continued strength in the second quarter. In a note to investors seen by AppleInsider , Morgan Stanley analyst Katy Huberty said that some of the highlights of Apple's Q1 2021 earnings report were "faster iPhone share gains, installed base growth, and services monetization." Those factors, along with a refreshed product lineup and a continued remote education and learning environment, hint at strong double-digit growth over the next several quarters, Huberty said. Other key metrics support an overall faster growth outlook in the long term. They include an acceleration in Apple's installed base growth — from 7% to 10% — and services monetization, as well as a recovery in China. The analyst adds that Apple's gross margin of 39.8% was 160 basis points higher than she modeled. Guidance suggesting upcoming March … [Read more...] about Morgan Stanley raises AAPL to $164 on Q1 2021 results, says Q2 outlook is strong

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Morgan Stanley has raised its Apple price target to $152 on expectations of a strong December quarter across its product and services portfolio. In a note to investors seen by AppleInsider , analyst Katy Huberty says that recent checks indicated that 5G adoption, the switch to remote education and work, and sustained App Store engagement all drove Apple to a potential blockbuster of a December quarter. "Our recent conversations suggest investors expect Apple to release solid, but not great, December quarter results," Huberty writes. "We disagree and believe that Apple is likely to report all-time record quarterly revenue and earnings." The analyst expects Apple to report double digit year-over-year growth across all five of its revenue segments, with some … [Read more...] about Morgan Stanley raises AAPL target to $152, expects blockbuster December quarter

AT&T announced on Friday that it plans to launch a cheaper ad-supported version of HBO Max in June. The telecom giant has only released minimal detail on the plan. It hasn't yet announced pricing or an exact release date for the upcoming cheaper tier. AT&T expects the ad-supported HBO Max tier to combine with global expansion to drive subscriber and revenue growth in 2021. HBO Max will launch in 60 markets outside of the US in 2021. These will include 39 Latin America and the Caribbean territories in late June and 21 European territories in the second half of 2021. The company anticipates ending the year with between 67 and 70 million subscribers. The service had around 61 million subscribers at the end of 2020. The company expects its HBO unit to more than double its revenue in the next five years. "Zach Snyder's Justice League" is one of the high-profile HBO Max exclusives coming in 2021 In response to the pandemic, Warner Bros is … [Read more...] about Ad-supported HBO Max option coming in June

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Morgan Stanley is "increasingly bullish" about the iPhone 12 cycle and has hiked the target Apple stock price, because of better-than-expected sales performance in China, stable build numbers, and other positive data. In a note to investor seen by AppleInsider , lead analyst Katy Huberty writes that the iPhone 12 is "surprising to the upside in China." The trend comes after months of supposed smartphone weakness in China. The analyst estimates that iPhone shipments are up around 40% year-over-year in China in the quarter to date. That's based on smartphone shipment information released by the Chinese government. Since it doesn't break out Android versus non-Android devices, the percentage of smartphones sold in China that are iPhones is an estimate. Total … [Read more...] about Morgan Stanley raises AAPL to $144 on iPhone 12 strength in China

Retail sector maintains robust growth The Saigon Times Daily Customers select apples at Vinmart Royal City in Hanoi. Vinmart has announced plans to increase the number of convenience stores it operates nationwide to 4,000 facilities – PHOTO: VNA HCMC - The local retail sector has attracted significant foreign funding through merger and acquisition deals as well as business expansions. Last year, retail sales hit an estimated VND3,300 trillion, up 12.4% against sales in 2017, according to the General Statistics Office. Le Viet Nga, deputy director of the Domestic Market Department, under the Ministry of Industry and Trade, was quoted by news site VietnamPlus as saying that many major foreign-invested retail firms had continued to expand their business scale as well as increase their market share in the local retail market. As for modern retail chains, the Saigon Union of Trading Cooperatives, also known as Saigon Co.op, last year took the lead with sales of nearly … [Read more...] about Retail sector maintains robust growth

Cross-border corporate taxation remains a challenge By Van Ly A person browses a shopping app via a mobile phone in this file photo. Though the revised tax administration law passed by the National Assembly takes into account the management of cross-border business, charging taxes on these business activities is not a simple task - PHOTO: THANH HOA HANOI - Though the revised tax administration law passed by the National Assembly takes into account the management of cross-border business, charging taxes on these business activities is not a simple task, sources said. Kuek Yu Chuang, Netflix’s managing director for Asia Pacific, recently held a working session with Minister of Information and Communications Nguyen Manh Hung. According to the Netflix representative at the session, the firm provides services in 190 countries and aims to invest in the Vietnamese market as well. Therefore, it is willing to fully comply with Vietnam’s laws and fulfill its tax obligations. … [Read more...] about Cross-border corporate taxation remains a challenge