Connect with us

News

Apple reports fourth quarter earnings with record $64.7 billion revenue

The quarter was “led by all-time records for Mac and services.”

Published

on

Apple Logo

Apple has announced its fiscal 2020 fourth quarter earnings. The quarter, which ended September 26, saw $64.7 billion in revenue and quarterly earnings per diluted share of $0.73. International sales accounted for 59 percent of the quarter’s revenue.

Like previous quarter, Apple’s Mac and iPad saw huge sore in its sales as the pandemic led people to follow work from home protocol. The fiscal fourth quarter was “led by all-time records for Mac and services,” said Apple CEO Tim Cook.

“Apple capped off a fiscal year defined by innovation in the face of adversity with a September quarter record, led by all-time records for Mac and Services,” said Tim Cook, Apple’s CEO. “Despite the ongoing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period ever, and the early response to all our new products, led by our first 5G-enabled iPhone lineup, has been tremendously positive. From remote learning to the home office, Apple products have been a window to the world for users as the pandemic continues, and our teams have met the needs of this moment with creativity, passion, and the kinds of big ideas that only Apple can deliver.”

Apple’s September quarter traditionally sees the company’s latest iPhone models on shelves, but this year wasn’t like recent years. Apple delayed this year’s iPhone launch to October, which couldn’t make it to the fourth quarter’s ending window. That said, iPhone sales were soft this quarter.

For the last two quarters, Apple didn’t provide any financial guidance and this continues. The company isn’t issuing any guidance for the quarter that will end in December, either.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending