Apple announces record quarter despite COVID-19
Everything’s coming up Apple. Michael Simon reports
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.