Apple reported record revenues of $81.43 billion for the period, up 36 per cent year-on-year.

This was confirmed via the company's financial results for the three months ended June 26th, 2021, which arrived above the expected $73 billion figure that was touted by a number of analysts.

The company also saw profits of $21.7 billion, up an impressive 93.2 per cent year-on-year. This was driven by phone sales in new territories and further strategic investment across its core sectors.

Net sales of iPhone devices witnessed a huge increase of 49.8 per cent year-on-year to $39.6 billion. The largest reportable region growth was China with 58.2 per cent growth year-on-year to $14.7 billion.

"Unmatched innovation"

"This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important," said Apple CEO Tim Cook.

"We’re continuing to press forward in our work to infuse everything we make with the values that define us - by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future."

Apple’s chief financial officer Luca Maestri added: "Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices.

"We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans."

Apple has stated that since 2020 App Store developers have been paid 48 per cent more.

More recently. employees at Apple have been struggling to have their work from home requests approved since the company rolled out a new hybrid working week.