Spurred by strong sales of the latest iPhones, Apple reported it took in a record $111 billion in revenue for the three months ended Dec. 31, as the company crushed expectations.

Why it matters: The move showed even a pandemic didn't dull demand for Apple's latest smartphones.

By the numbers:

• Revenue: $111.4 billion, up 21% year over year, and well above Wall Street expectations of around $103 billion, per FactSet (via WSJ).
• Earnings: $28.75 billion.
• Per-share earnings: $1.68, up 35% year-over-year, and well ahead of expectations of around $1.41.

What they're saying: "Our December quarter business performance was fueled by double-digit growth in each product category, which drove all-time revenue records in each of our geographic segments and an all-time high for our installed base of active devices,” Apple CFO Luca Maestri said in a statement.