Apple Posts Record Quarterly Results Despite Parts Shortages

Tech giant Apple has posted an all-time revenue record of $123.9 billion, up 11 percent year over year. 

The company announced the results on Thursday. 

Mac sales were up 12%, while iPhone sales jumped 9%.

With few rival phones debuting in the holiday shopping season, the iPhone 13, which started shipping days before the quarter began, led to worldwide phone sales revenue for Apple of $71.6bn.

CEO Tim Cook said the results were made possible by the company’s innovative lineup of products and services. 

Revenue from the company’s services unit – which includes Apple Pay, the App store and its TV streaming service – was up more than 23%.

The iPad, which executives said was particularly affected by the supply issues, was the one product that showed weakness, with sales slipping 14%.

“We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.”

Apple also announced quarterly earnings per diluted share of $2.10.