Apple hit record $64.7 billion in revenue in Q4 2020 because of products on “Apple can deliver”

Today, Apple has announced an impressive $64.7 billion revenue in its earnings report for the fiscal 2020 fourth quarter ended on September 26. Sales in the United States account for 41 percent and international sales accounted for 59 percent of the quarter’s earnings. Mac and Services saw all-time high record sales.

Despite the prevailing COVID-19 pandemic, the Cupertino tech giant did not lose its consumer base worldwide which the company’s CEO, Tim Cook accredits to innovation, ideas, and products which “only Apple can deliver.”

Apple’s CFO, Luca Maestri said,

“Our outstanding September quarter performance concludes a remarkable fiscal year, where we established new all-time records for revenue, earnings per share, and free cash flow, in spite of an extremely volatile and challenging macro environment. Our sales results and the unmatched loyalty of our customers drove our active installed base of devices to an all-time high in all of our major product categories. We also returned nearly $22 billion to shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.”

Apple Hit $64.7 Billion Revenue in  Q4 2020

The company’s services and products saw a slight growth increase in YoY earnings for the same quarter and the fiscal year 2020.

Net Sales

The Fiscal Year 2020 The fiscal Year 2019
  • Products – 220, 747 million
  • Services 53,768 million
  • Products – 213,883 million
  • Service – 46, 291 million

 

Q4 2020 (Three months)

Q4  2019 (Three months)

  • Products – 50,145 million

·       Services – 14,549 million

  • Products – 51,529 million

·       Services – 12,511 million

Sales by Category 

Categories Q4 2020 Q4 2019 2020 2019

iPhone 

26,444 33,362 137,781 142,381

Mac

9,032 6,991 28,622

25,740

iPad

6,797 4,656 23,724

21,280

Services

14,549 12,511 53,768

46,291

Wearables, Home and Accessories

7,876

6,520 30,620

24,482

Region-wise sales grew in the United States, Europe, Japan, and Rest of Asia Pacific. However, sales in Great China decline in quarterly and yearly approximately by 3000 million units.

In spite of the COVID-19 related production delays and cautioned consumer spending trends, the Cupertino tech giant has not only delivered a range of new products and services but also did well. This year’s products and services line-up included iPad Pro, MacBook Pro and MacBook Air iPad Air, Apple Watch Series 6 and Apple Watch SE, iPhone SE,iPhone 12  series, Magic KeyboardApple One, Fitness Plus, iOS 14, iPadOS 14, watchOS 7, tvOS 14macOS Big Sur (beta) and many new features.

Company’s CEO, Tim Cook said,

“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. 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.”

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