11 May 2020
Apple has reported its first fiscal quarter earnings report for 2020 and has surpassed all the expectations. It has registered an overall revenue of $91.8 billion including $56 billion revenue from iPhone sales. It was expected to have about $88.43 billion revenue but thanks to the huge success of the iPhone 11 series, it breezed past the same with ease.
It is also the highest quarter earning ever for Apple which is another reason to believe that its hardware products are selling like hotcakes. It saw a 9% growth in the quarter as compared to the last year. It earned $4.99 per share which itself is a growth of 19% from the last year.
In an official press release, Apple CEO Tim Cook said,
“We are thrilled to report Apple’s highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables. During the holiday quarter, our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion. We see this as a powerful testament to the satisfaction, engagement and loyalty of our customers — and a great driver of our growth across the board.”
The iPhone 11 has been seeing a huge demand in particular as it has been priced quite affordably by the company. The majority of its demand has been from markets like India where customers are known to be price sensitive. It seems like the idea of getting the latest iPhone with all the new hardware, dual cameras, good battery life, and design at relatively cheaper pricing has proved to be a crucial factor for the buyers.
There is no doubt that iPhones are continuing the most important factor in Apple's revenue reports but it has seen good responses for other products as well. Its truly wireless earphones AirPods have continued to be a fan favorite, especially among those who own an iPhone. Similarly, Apple Watch remains the best-selling wearable product around the world.
- The Apple iPhone 11 Pro Max isn't still available online. To be notified when it becomse available click here.
- The Apple iPhone 11 Pro isn't still available online. To be notified when it becomse available click here.
- The Apple iPhone 11 isn't still available online. To be notified when it becomse available click here.