On July 27, local time, Apple released its second quarter 2021 financial report, and both sales and profits exceeded analyst expectations.
The biggest driving factor is that iPhone sales rose more than expected, making Apple’s total revenue in the second quarter reached 81.43 billion US dollars, an increase of 36% year-on-year, higher than analysts’ estimates of 73.3 billion US dollars.
Another driving factor is the increase in revenue from Apple’s services, such as Apple TV and Apple Music subscriptions have increased significantly. Apple CEO Cook said that all Apple’s service platforms currently have 700 million paid subscribers, compared with 660 million in the previous quarter.
Apple’s sales growth mainly comes from the Chinese market, because many Chinese consumers buy ancillary products such as Apple Watches to match their iPhones. The iPhone has pushed Apple’s market value to nearly $2.5 trillion.
Although the total revenue and iPhone sales exceeded expectations, Apple’s stock price fell more than 2% after rising more than 1% after the market. According to the analysis, this may be because Apple has not given performance guidance for six consecutive quarters, causing the stock price to fall instead of rising.
Apple released a strong financial report, and its single-quarter revenue increased 36% year-on-year, but its stock price declined instead of rising. Click on the video to see what it is!
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