The collapse did not happen. Apple managed to set a record for profit
05.05.2020 0 Comments
And many expected failure.
Apple has conducted a financial report for the first quarter of 2020. The company reported an increase in revenue compared to the same period last year, despite the difficult epidemiological situation in the world.
Apple's revenue for the past quarter was $ 58.3 billion. A year earlier, this figure was $ 58 billion. The company's net profit fell slightly from $ 11.56 billion to $ 11.25 billion.
Apple CEO Tim Cook admitted that judging by the dynamics of the first weeks of the last quarter, the company expected record sales and profits. However, after the epidemiological situation in the world changed, which led to a decrease in demand for devices and the temporary closure of a number of Apple stores around the world.
Apple Product Revenue
iPhone – $ 28.96 billion ($ 31.05 billion a year earlier) iPad – $ 4.37 billion ($ 4.87 billion) Mac – $ 5.35 billion ($ 5.51 billion) Wearable devices and accessories – $ 6.28 billion ($ 5, 12 billion) Services – $ 13.35 ($ 11.45 billion)
Apple managed to get increased profits due to record revenue from the company's services. In addition, last quarter recorded sales growth of wearable devices. It is estimated that the growth is due to the release of AirPods Pro at the end of last year.
Also, Apple emphasized that the company's most revenue in the first quarter declined in China – by 8%. At the same time, in Europe, the company, on the contrary, recorded growth – by the same 8%.
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