Apple's revenue grows despite falling iPhone sales and a pandemic

This week, Apple announced the financial performance of the first quarter of 2020, which in the US is considered the second quarter of the fiscal year. The fall in earnings that investors and analysts were so afraid of did not happen. Despite the coronavirus pandemic, Apple managed to maintain financial performance at the 2019 level.

Apple's revenue grows despite falling iPhone sales and a pandemic

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Last year, Apple earned $ 58.3 billion, of which, after deducting all expenses and taxes, 11.25 billion net profit remained. This is slightly more compared to the same period last year, when the company's revenue amounted to exactly 58 billion dollars, and net profit – 11.56 billion. IPhone sales brought the company 28.96 billion dollars. This is still Apple's main source of revenue. In second place in terms of revenue are services and services. The company earned $ 13.35 billion on them last quarter. Another 6.28 billion was brought by the category, which includes the Apple Watch smartwatch, AirPods wireless headphones, HomePod speakers and other accessories. Mac and iPad revenue will be $ 5.35 and $ 4.37 billion, respectively.

Recall, by publishing a financial report for the fourth quarter of 2019, Apple made a traditional forecast for the next reporting period. According to the company’s plans, the revenue from January to March 2020 was to reach $ 63-67 billion. However, a few weeks ago, Apple announced that it would not be able to achieve these indicators due to the coronavirus epidemic, because of which it had to close its Apple Store around the world.

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Chief editor of the blogErika J. Wells .

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