Apple shrugs off Covid-19 with record quarter
31 July 2020 | 0
It’s hard not to find a bright spot in Apple’s third-quarter earnings. Not only did the company beat expectations with revenue of nearly $60 billion and an 11% growth over last year, it also saw a sales bump across every product it sells.
The Mac enjoyed the biggest leap, buoyed by work-from-home orders for many businesses around the world. Mac sales topped $7 billion for the first time in third-quarter history, an increase of more than 20%, and the iPad also set a record for a non-holiday quarter. Numbers below are compared to last year’s Q3.
- iPhone: $26.4 billion versus $25.9 billion
- Mac: $7.1 billion versus $5.8 billion
- iPad: $6.6 billion versus $5 billion
- Wearables: $6.5 billion versus $5.5 billion
The only somewhat muted performer was Services. While the $13.2 billion it raked in represents a strong increase over the $11.5 billion in the year-ago quarter (before most of the new services launched), that figure is lower than last quarter’s $13.4 billion. But since Apple is giving away a free year of TV+ with every new device purchase, it is unclear how many viewers the streaming service has as compared to Netflix or Disney+.
Apple once again declined to provide guidance for the upcoming quarter, which may see the launch of the iPhone 12. However, the company did announce a 4-to-1 stock split effective 24 August the first split since 2014. Apple also said that they expected to ship the new iPhones this year a few weeks later than the typical September release.
IDG News Service