apple earnings call 2021

We'll take our next question from Kyle McNealy with Jefferies. FACEBOOK TWITTER LINKEDIN By. And then I had a follow-up. And those emerging markets have done incredibly well, significantly better than company average. And we've got some shows that are -- have gotten significant buzz like Ted Lasso and The Morning Show and Defending Jacob and many others. But I'm kind of curious, do you think giving more public disclosure on your services business like App Store would help alleviate some of those concerns? And so, we're really standing up on behalf of the consumer here. 28, 2021. And then, for my follow-up, I know there's a lot of moving parts, Tim, but with the economy sort of reopening here in the US, and you mentioned about supply constraints possibly on the Mac and the iPad. So my question is, have you seen any improvement in the attach rate for Watch and AirPods with iPhone? That's helpful. Good day, and welcome to the Apple Q2 FY 2021 earnings conference call. And we're seeing a strong reception to the new iPad Pro as well that we just announced. It's obviously the early days of 5G. This article is a transcript of this conference call produced for The Motley Fool. Yeah. Apple will announce its financial results for the second quarter of 2021 on Wednesday, April 28. Thanks to researchers and scientists, doctors and nurses, everyone who can put a shot in an arm and even just check a name off a list, we have reached new days of hopeful resolve. As we continue to execute at an extremely high level, we were also able to return nearly 23 billion to shareholders during the March quarter. And so, there's a lot of great things of the strength of the product cycle in addition to the trends that we're seeing in the marketplace. And as I had mentioned earlier, you have to remember that China entered the shutdown phase earlier in Q2 of last year than other countries. Thanks for taking the question and congratulations on the great quarter. And so, it was a sort of across the board in some really key countries, we did really, really well. I'm just wondering how you're thinking about pricing as it pertains to your offering here? Apple posted nearly $90 billion in revenue for the second quarter of 2021, a March quarter record and the third-highest quarter of all time. First, our installed base growth has accelerated and reach an all-time high across each major product category. Apple Q2 2021 Earnings Preview: What to Look For Focus on AAPL services revenue. As has been the case throughout the pandemic, iPad and Mac continue to be critically important tools for our customers. So I'm wondering if you could give us any context of what in this cycle you're seeing in terms of the mix relative to past cycles? Keep in mind that our Europe segment is a very broad version of Europe because it includes Western Europe, which has done very, very well. If you remember, we announced back in 2018 that we were making a very sizable commitment to the United States. Not Apple, not another company, but the user of where it should be. And then, iPad, you've got remote learning and work from home as well. And they span from, obviously, the investment that we made directly at Apple. And just last week, we unveiled an all-new purple finish for iPhone 12 and 12 Mini. Particularly, I would say, iPad and Mac. Apple will host its Q2 2021 earnings call on Wednesday, April 28, 2021. One of the things that we've noticed is that throughout COVID was that obviously digital services have done very well. And of course, our business has grown. Thanks. And so, all in all, we feel very, very good. So I would say that on the inventory side, it was pretty straightforward. https://news.alphastreet.com/apple-inc-aapl-q1-2021-earnings-call-transcript Apple assumes no obligation to update any forward-looking statements or information which speak as of their respective dates. We are extremely pleased to report record results for our March quarter despite continued uncertainty in the macro environment. Absolutely. Today's call is being recorded. That was very helpful, Tim. Just last week, we introduced Apple Card Family which reinvents how you can share credit cards and build credit together. We feel very good about it. I think we have a good handle on our demand. Apple will be holding an earnings conference call on Wednesday, April 28th. But I would point to Luca's point earlier about the shortages and those shortages primarily affect iPad and Mac. Please note that some of the information you'll hear during our discussion today will consist of forward-looking statements, including, without limitation, those regarding revenue, gross margin, operating expenses, other income and expense, taxes, capital allocation and future business outlook, including the potential impact of COVID-19 on the company's business results of operation. Have we seen kind of a structural change to the higher band of the product category that you believe can be sustained going forward? This stream is best experienced on an iPhone 7 or later, iPad (5th generation or later), or iPod touch (7th generation) using Safari on iOS 12 or later; or a Mac using Safari on macOS Mojave 10.14 or later. We debuted a radically redesigned brand-new iMac designed around M1's unmatched capabilities, and we've brought M1 to iPad for the first time in the new iPad Pro with 5G capability and a Liquid Retina XDR display. We'll take our next question from Samik Chatterjee from J.P. Morgan. The shortages that Luca spoke about in the color that he provided on the future, affect primarily the iPad and the Mac. Thanks for the question. It's difficult with just this far into the cycle to make a statement about the cycle in general because keep in mind that we just launched midway through the Q1 period. And so, that's really the focus of it. [Operator instructions] Operator, may we have the first question, please? Yeah. We're not releasing subscriber numbers. The demand feels very strong right now. Wamsi Mohan -- Bank of America Merrill Lynch -- Analyst. Microsoft and partners may be compensated if you purchase something through recommended links in this article. Thank you. We grew very strong double digits in each of our product categories, with all-time records for Mac and for services and March quarter records for iPhone and for wearables, home and accessories. Most of our issue is on legacy nodes. We saw a very strong performance for iPhone, which grew 66% year over year, driven by the strong popularity of the iPhone 12 family. Getting some questions from investors of how to think about the implication on the run rate of operating expenses for the company. And I see that happening day by day as we sign more shows and more storytellers including Malala as I had mentioned in my opening comments. I will provide more details about the performance of our services business later. A really strong mix, a strong mix on iPhone, but in general, across all product categories, and that obviously was helpful. Can we have the next question, please? Today's call is being recorded. Because, usually, I would imagine if I'm using something more, I have to replace it more often. I'd like to just understand what do you think drove that acceleration specifically? Over the next five years, we will invest $430 billion, creating 20,000 jobs in the process. Our revenue reached a March quarter record of $89.6 billion an increase of over $31 billion or 54% from a year ago. Apple has confirmed that its next quarterly earnings report will be published on Wednesday, April 28th, 2021. Apple Inc. All rights reserved. And foreign exchange sequentially, again, from December to March, was favorable 90 basis points. Our services set an all-time record of $16.9 billion, growing 27% over a year ago. https://9to5mac.com/2021/03/31/aapl-q2-2021-earnings-date-announced We were very pleased with our performance in China. Thank you, Harsh. But this is all a function of high demand for all our products. https://www.thestreet.com/apple/news/earnings-live-blog-fiscal-first-quarter This was a pretty unbelievable quarter, and investors are going to ask about the sustainability of current demand trends, especially as you lap some of the benefits from COVID in areas like services and Mac later this year. In many places around the world, new waves of infections driven by even more infectious variants of the virus are driving new lockdowns. Apple (NASDAQ:AAPL) Q2 2021 Earnings Call Apr 28, 2021, 5:00 p.m. And this is from Oscar nominations to Emmy Awards to Critic Choice awards and all the rest. Thanks, Amit. And we'll see where we go from here. Can we have the next question, please? Apple’s Q2 2021 quarterly revenue of $89.6 billion is an increase of 54 percent year-on-year from Q2 2020.The company’s quarterly earnings per diluted share is $1.40, which is technically down from the $2.55 seen last year, but largely because of Apple’s 4-for-1 stock split in August 2020. Thank you. We grew 56% during the quarter. Hey, guys. And so, -- and then the services by itself has really accelerated. Krish Sankar -- Cowen and Company -- Analyst. Or were there some supply disruptions during the quarter that caused you to drain inventory and create that tightness that you're talking about for June? We're very excited about the future of this category and believe that our integration of hardware, software and services uniquely positions us to provide great customer experiences in this category. During the March quarter, we added more than 40 million paid subs sequentially, and we have now reached more than 660 million paid subscriptions across the services on our platform. Other platforms may also be able to access the stream using recent versions of Chrome, Firefox, or Microsoft Edge (MSE, H.264, and AAC required). We are a non-profit website, and we are not affiliated with Apple … I think with the regulatory questions and scrutiny, we have to make sure that we're telling our story and why we do what we do, and we're very focused on doing that. Good afternoon and thank you for joining us. As a result of this level of sales performance and the unmatched loyalty of our customers, our installed base of active devices reached a new all-time record in each of our major product categories. Wearables, home and accessories grew 25% year over year to $7.8 billion, setting new March quarter revenue records in every geographic segment. I'm particularly excited about our inaugural Entrepreneur Camp for black founders and developers. If you sort of look at the different products, iPhone, I've already mentioned some of the great momentum that we had there. And just a quick follow-up for you, Luca. Please go ahead. And then I had a follow-up. As we move ahead into the June quarter, I'd like to review our outlook, which includes the types of forward-looking information that Tejas referred to at the beginning of the call. But clearly, we like what we see right now a lot. OK. And then, as a quick follow-up back to the supply constraints. This strong position allows us to continue to invest confidently in our future, while also returning value to our shareholders. Your browser does not support live streaming of the conference call. Here's what to expect from the earnings report and conference call. Show full articles without "Continue Reading" button for {0} hours. I mean we had great performance in Europe. Please go ahead. It's worth remembering for much more than financial reasons or year-ago compares, just how we felt at this time last year when everything we knew had to change: Planes sat grounded, entire business districts were empty and silent; people left groceries or care packages sitting in the garage or in the hall overnight in recognition of all that we didn't know and therefore, had to imagine. Building on the success of our Entrepreneur Camp program, which we began in 2019, this program gives this profoundly innovative community of developers the chance to develop next-level technical skills through hands-on technology labs, and with our partners at Harlem Capital, it also shares insights and mentorship on building and scaling an app business. First one, just on services. But what's your best assessment of when maybe the supply constraints could ease? So we are experiencing an incredible level of demand, which certainly is favored by working from home and learning from home environment, but also by the incredible amount of new products and innovation that we put into the products that we launched during the last couple of quarters. No. And so, that enables you to go a bit higher than what we were expecting to sell when we went into the quarter 90 days ago. Samik, I'll take that one. We expect OI&E to be around 50 million and our tax rate to be around 14.5%. Let me get into more detail for each of our revenue categories. https://www.macrumors.com/2021/03/31/apple-q2-2021-earnings-report-date As a result, net cash was 83 billion at the end of the quarter. We'll now take our next question from Amit Daryanani with Evercore. Samik Chatterjee -- J.P. Morgan -- Analyst. But what everybody else is doing, I don't know. Openreach in the UK has started equipping tens of thousands of field engineers with iPhone 12 to speed up their deployment of broadband services to homes around the country. we'll take our next question from Wamsi Mohan with Bank of America. This powerful yet simple idea gives users a choice over how their data is used and shared across the apps that they love and use every day. So I'd love your perspective on it. Apple Inc. 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