Apple Posts 1 percent Y/Y Revenue Growth

  • quarterly earnings of $2.55, up 4 percent
  • International sales accounted for 62 percent of the quarter’s revenue
  • all-time record in services, $13.35 billion in revenue, up from $11.45 billion a year ago
  • a quarterly record for wearables
  • iPhone sales fell 6.7 percent to $28.96 billion from $31.05 billion a year prior
  • iPad revenue fell 10.3 percent to $4.37 billion from $4.87 billion

“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.”

“We are proud of our Apple teams around the world and how resilient our business and financial performance has been during these challenging times,” said Luca Maestri, Apple’s CFO. “Our active installed base of devices reached an all-time high in all of our geographic segments and all major product categories. We also generated operating cash flow of $13.3 billion during the quarter, up $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 $350 billion to the United States economy.”

Source:  Apple’s Earnings Release



Source:  Apple