For its third fiscal quarter of 2020, Apple reported quarterly record financial results that far exceeded consensus estimates, managing to show revenue increases in all of its product segments and geographic sectors. Chalk it up to people working and learning from home.
iPhone revenues now account for less than half of Apple’s revenues, but Services and Wearables more than made up the difference. And CEO Tim Cook announced that the Apple Card will become available this August.
Apple has posted yet another record-breaking third quarter, thanks in large part to the iPhone X’s high price tag and the company’s ever-increasing Services revenue.
Apple saw year-over-year revenue and unit sales increases for all of its product divisions in Q3 2017, including the relatively beleaguered iPad.
Is Apple losing its touch, or are consumers’ wallets tightening? Although most product lines are declining, Apple’s investment in services like Apple Music and Apple Pay, coupled with the growing success of professional-grade iPads, seems to be paying off.
Although the iPad is still slumping, and Apple Watch sales remain a closely guarded secret, iPhone and Mac sales hit record highs, leading to yet another strong showing for Apple’s bottom line.
Boosted by strong sales of iPhones, Macs, and apps, Apple has posted record financial results for the company’s third fiscal quarter, with $37.4 billion in revenue and net profits of $7.7 billion.
Apple’s revenues continue to rise, but the company’s profits are falling as its margins shrink.