Apple Reports Fourth Quarter 2020 Profit of 12.7 Billion Dollars
Apple reported quarterly revenue of $64.7 billion, up 1% from a year earlier, and set a new record for the September quarter. Apple posted a net income profit of 12.7 billion dollars, down 7.29% from a year earlier, and quarterly earnings per diluted share of $0.73 for fiscal year Q4 2020 which s ‘completed on September 26, 2020. During the earnings call, Tim Cook said Apple hit a new record for the September quarter, despite the iPhone 12’s launch being delayed during the quarter and ongoing impacts of COVID-19, including retail store closures.
Apple CEO said he also set a September quarter record in India. He said that Apple was very well received for the launch of its online store in the country at the end of the quarter, but that this might not be the only reason for its profits since its launch did not take place. until the end of September.
- $ 50.1 billion in revenue produced, down 2.71% from a year ago
- Non-iPhone products saw a combined growth of 30%, despite supply constraints on iPad, Mac, and Apple Watch throughout the quarter
- $ 26.4 billion in iPhone revenue, down 20% from the previous year, mainly due to the lag in Series 12 sales, but demand for the iPhone remained very strong, with double-digit growth
- IPad revenues reached $ 6.8 billion, up 46% from a year earlier and the highest revenue for the September quarter in eight years, despite supply constraints. Strong double-digit growth in all geographic segments, including an all-time high in Japan and a September quarter record in the Americas.
- Mac’s revenue was $ 9 billion, up 29% from last year, and a historic high. It experienced double-digit growth in every geographic segment and set all-time highs for revenue in the Americas and the rest of Asia-Pacific, as well as records for the September quarter in Europe and Japan.
- $ 14.5 billion in service sector revenue, a record high, and a 16% increase over last year. Strong double-digit, all-time records in App Store, Cloud Services, Music, Advertising, and Payment Services. Historic record in the Apple Care sector.
- 585 million paid subscriptions across all services, a sequential increase of over 35 million, up 135 million from the previous year. Confident to meet and exceed the increased target of 600 million paid subscriptions by the end of the calendar year 2020.
Clothing accessories set a new record for the September quarter, with revenue of $ 7.9 billion, up 21% from the previous year. The September quarterly records were achieved in each geographic segment and for each of the three product categories: clothing, home, and accessories.
Given the continued uncertainty in the near-term world, Apple has not provided a revenue forecast for the coming quarter. However, it released additional information on its forecast for the December quarter for product categories.
Given the overwhelmingly positive reception given to the iPhone 12 series, Apple expects iPhone revenue growth in the December quarter, despite the iPhone 12 and 12 Pro shipping four weeks after the start of the quarter, and the iPhone 12 Mini and 12 Pro Max seven weeks after the start of the quarter. She expects all other products to experience double-digit growth, and we also expect services to continue to experience double-digit growth.