In spite of everything that’s happened with the COVID-19 pandemic, Apple managed to beat Wall Street’s expectations for its second quarter returns. The company turned in revenues of $58.3 billion along with profit of $11.25 billion for the quarter, up one percent year-over-year when was street was expecting a five percent year-over-year decline.
“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,” Apple CEO Tim Cook said. “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.”
Apple posted the following sales data:
- iPhone: Down 7. 5 percent from $31B to $28.9B
- iPad: Down 10 percent from $4.9B to $4.4B
- Mac: Down less than 3 percent from $5.5B to $5.35 billion
- Wearables: Up 22 percent from $5.1B to $6.3B
- Services: Up 17 percent from $11.5B to $13.4B
Stay tuned for additional details as they become available.
Via The Mac Observer and Macworld