It has already been a few months since Apple revealed its first quarterly earnings for 2020, so here we are again with the latest report.
This time around it’s for the second fiscal quarter of 2020, and it’s a big one. Why? Because this report should give us a glimpse as to just how powerful of an impact the ongoing global coronavirus pandemic has had on Apple up to this point. Unlike the first fiscal quarter of this year, this stretch doesn’t include any major holidays, either, so Apple’s numbers may be a bit lower than what it was originally expecting back in January.
In any event, on Thursday Apple officially announced its second fiscal quarterly earnings for 2020. Apple is still not breaking down individual sales numbers for the iPhone, iPad, or Mac anymore. Still, there are plenty of numbers to go over, which we’ve broken down per category:
- iPhone: $28.9 billion
- iPad: $4.36 billion
- Mac: $5.35 billion
- Wearables, home, and accessories: $6.28 billion
- Services: $13.34 billion
The total revenue for the company over the three month stretch was $58.3 billion. Compare that to the $58 billion in revenue it made in the fiscal second quarter of 2019, and the year-over-year was pretty flat with just a 1% increase. The company recorded a total profit of $11.25 billion.
Apple today announced financial results for its fiscal 2020 second quarter ended March 28, 2020. The Company posted quarterly revenue of $58.3 billion, an increase of 1 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.55, up 4 percent. International sales accounted for 62 percent of the quarter’s revenue.
However, Apple’s Services revenue –which stems from the likes of services like iCloud, Apple Music, Apple Card, Apple Arcade, and others– hit yet another record all-time high of $13.3 billion.
Here’s Tim Cook, Apple’s CEO, weighing in on the latest numbers, referencing the current health crisis and ways the company has tried to help:
Despite COVID-19’s unprecedented global impact, we’re proud to report that Apple grew for the quarter, driven by an all-time record in Services and a quarterly record for Wearables,” said Tim Cook, Apple’s CEO. “In this difficult environment, our users are depending on Apple products in renewed ways to stay connected, informed, creative, and productive. We feel motivated and inspired to not only keep meeting these needs in innovative ways, but to continue giving back to support the global response, from the tens of millions of face masks and custom-built face shields we’ve sent to medical professionals around the world, to the millions we’ve donated to organizations like Global Citizen and America’s Food Fund.
And Apple’s CFO, Luca Maestri:
We are proud of our Apple teams around the world and how resilient our business and financial performance has been during these challenging times,” said Luca Maestri, Apple’s CFO. “Our active installed base of devices reached an all-time high in all of our geographic segments and all major product categories. We also generated operating cash flow of $13.3 billion during the quarter, up $2.2 billion over a year ago. We are confident in our future and continue to make significant investments in all areas of our business to enrich our customers’ lives and support our long-term plans — including our five-year commitment to contribute $350 billion to the United States economy.
Interestingly, Apple’s official press release for this fiscal quarter’s earnings does not include any forward-looking statements for the next quarterly earnings — which will be reported in July.
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