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Friday July 31, 2020

Apple’s revenue growth in the third quarter 2020 thanks to higher sales of iPhone and iPad

Apple has announced its third-quarter 2020 financial numbers that ended at the end of June with significant revenue growth thanks to sales of its various devices.

The company was able to achieve revenues of $ 59.7 billion in the third quarter of 2020 and a growth of 11% compared to the same period last year, and global revenues accounted for about 60% of the total results of the company. This contributed to a net income of $ 11.25 billion thanks to the high growth.

Apple was able to achieve $ 16.3 billion in liquidity in the third quarter of 2020, which is a new record for the company.

Apple devices lead the big growth this time

Speaking of the rest of the results, the growth in hardware sales was the milestone this time, with the iPhone, iPad and smartwatch setting records.

Apple said that iPhone sales reached $ 26.4 billion, compared to $ 25.9 billion for the same period last year, which is a significant figure for the company’s sales in recent years at this time, and this growth may be due to the launch of the cheap iPhone SE at the beginning of the third quarter to constitute a milestone . Of course, the company did not announce the number of phones sold and only talked about its revenues.

As for iPad sales, it jumped to $ 6.6 billion, compared to $ 5 billion in the third quarter of 2019.

On the same side, Mac sales grew by 20%, to achieve $ 7.1 billion for the company, in a large jump in revenue from computers, perhaps due to the Corona pandemic and people working from home, which led to a rise in demand for Mac computers to work.

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While the Apple Smart Watch achieved sales of $ 6.45 billion, setting a record for any quarter of the financial year away from annual holidays.

On the other hand, Luca Maestri, Apple’s chief financial officer, confirmed the delay in the iPhone 2020 launch on the sidelines of the financial results.


Source:

Apple

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