Apple posted a record spring-quarter profit, as customers embrace new iPhones and investors look for signs its pandemic-induced success will continue
Apple Inc. on Tuesday posted a record spring-quarter profit as customers keep embracing new iPhones and other devices, while investors look for signs the company’sThe Cupertino, Calif., tech giant earned $21.7 billion in profit for the three-month period that ended in June, the best fiscal third quarter in its 45-year history. On a per share basis, the company earned $1.30, which exceeded analysts’ expectations for $1.01. Revenue rose 36% from a year earlier to $81.
Apple is on pace for its best fiscal year ever with a projected profit of $86 billion for the 12-month period ending in September, according to an average forecast of analysts surveyed by FactSet. That would be about 51% better than last year’s record; a year ago, analysts were predicting what now seems like a paltry 11% gain.
Investors came into 2021 expecting big things, thanks to the iPhone 12 lineup and its 5G cellular connectivity. Chief Executive Tim Cook has
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