Friday, 01 May 2020 10:09

Apple increases revenue take, sees record services sales Featured

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Apple increases revenue take, sees record services sales Image by Nick_H from Pixabay

The coronavirus pandemic has failed to halt the growth of the Apple juggernaut, with the company posting quarterly revenue of US$58.3 billion for its second quarter, an increase of 1% year-on-year. Earnings at US$11.25 billion were slightly down from US$11.56 billion posted in the corresponding 2019 quarter.

About 62% of this revenue came from the company's international sales. Services revenue hit a high, with US$13.3 billion coming in.

iPhone sales fell by almost US$2 billion, down from US$30.9 billion in the second quarter a year ago, to US$29 billion.

There have been reports that the company plans to delay by about a month mass iPhone production in China; this normally takes place just prior to the announcement of the line-up of devices to be released in September.

But whether the total production will be above or below last year is uncertain, with some reports saying the figure would be down by about 20% while other reports say 213 million iPhones will be produced, an increase of 4% over 2019.

Apple's sales in China during the quarter stood at US$9.46 billion, less than a billion down from the second quarter last financial year.

Apple chief executive Tim Cook said “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.

“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.”

Chief financial officer Luca Maestri said the active installed base of devices reached an all-time high in all geographic segments and all major product categories.

"We also generated operating cash flow of US$13.3 billion during the quarter, up US$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 US$350 billion to the US economy.”


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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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