new revenue record this quarter

The situation we are experiencing has affected everyone, but Apple seems to have managed to get around it, at least in terms of its benefits this quarter. Despite all the adversities, Apple has once again set a record for revenue and profit in the second quarter of 2020, which corresponds to the third fiscal quarter of the year.

Apple has announced some revenue of $ 59.7 billion and a profit of $ 11.25 billion in this past quarter. This represents a new record and a considerable increase compared to the earnings of the same quarter of last year, who left $ 53.8 billion in revenue and $ 10.04 billion in benefits.

Apple continues to break records

As usual for a long time, Apple hasn’t reported the exact sales figures for iPhone, iPad, or MacHowever, the company does share a breakdown of the income of each section. Each and every one of the sections increased their income with respect to the data of a year ago, and the situation of confinement and work from home has increased the sales of Mac and iPad considerably during this quarter:

iPhone: 26.42 billion dollars (grows 1.66% year-on-year)
Services: 13.16 billion dollars (grows 14.85% year-on-year)
Mac: 7.08 billion (grows 21.63% year-on-year)
iPad: 6.58 billion (grows 31.04% year-on-year)
Wearables, home and accessories: 6.45 billion (grows 16.74% year-on-year)

As we see, the iPhone is still the main source of income for Apple, represents 44% of the company’s total revenue. In second position we have Services, which have doubled their 2016 contribution, 6 months ahead of schedule, now account for 22% of Apple’s total earnings. Then we have the Mac, iPad and wearables and accessories, practically contributing the same percentage: 12, 11 and 11% respectively.

This is great results for Apple that follows increasing your income in any product category that the company has in the market. At the end of the conference, both Tim Cook, the CEO of Apple, and Luca Maestri, the chief financial officer, shared some very interesting words about these results.

Tim Cook:

“He Apple’s record quarter in June It was driven by double-digit growth in both Products and Services and growth in each of our geographic segments. In times of uncertainty, this performance is a testament to the important role our products play in the lives of our customers and Apple’s relentless innovation. This is a challenging time for our communities, and, from Apple’s new 100 million Justice and Racial Equity Initiative to a new commitment to being carbon neutral in 2030, we are living the principle that what we do should create opportunities and leave the world better than we found it. “

Luca Maestri:

“Our performance in the June quarter is a strong evidence of Apple’s ability to innovate and run through tough times. Record business results pushed our active base of installed devices to an all-time high in all of our geographic segments and all major product categories. We grew EPS by 18% and generated operating cash flow of $ 16.3 billion during the quarter, a record for the June quarter for both metrics. “