Ap­ple an­nounces record quar­ter de­spite COVID-19

Every­thing’s com­ing up Ap­ple. Michael Si­mon re­ports

iPad&iPhone user - - CONTENTS -

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‑per cent 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 per

cent, 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’s 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.

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