Apple Announces Second Fiscal Quarter 2020 Earnings

Apple today announced its financial results for the second fiscal quarter of 2020. Under the influence of the epidemic, total revenue was $58.3 billion and net profit was $11.2 billion. In the same period last year, revenue was $58 billion and net income was $11.6 billion. What do you say, your uncle is really your uncle.

Apple Announces Second Fiscal Quarter 2020 Earnings

Product side:

Revenue from iPhone was $28.962 billion, or 50% of total revenue, compared to $31.051 billion in the same period last year.

Revenue from iPad was $4.368 billion, or 7% of total revenue, compared with $4.872 billion in the same period last year.

Revenue from Mac was $5.351 billion, or 9% of total revenue, compared to $5.513 billion in the same period last year.

Revenue from wearables, home devices and accessories was $6.284 billion, or 11% of total revenue, compared to $5.129 billion in the same period last year.

Revenue from services was $13.348 billion, or 23% of total revenue, compared to $11.450 billion in the same period last year.

Apple Announces Second Fiscal Quarter 2020 Earnings

When Steve Jobs was still alive, he said that Apple cannot live on the iPhone alone. After Tim Cook took office, he also said this many times. Now, when all products have experienced a decline in revenue due to the epidemic, Apple’s Services products bucked the trend, with sales reaching $13.348 billion, an increase of 17% from $11.450 billion in the same period last year.

Apple Announces Second Fiscal Quarter 2020 Earnings

Apple’s service business includes iTunes, App Store, Mac App Store, Apple Music, Apple Pay, AppleCare, Apple TV+, Apple News+, Apple Arcade, etc.

Last year, Apple released Apple TV+ and Apple Arcade, which have been paving the way for many years, and officially entered the video streaming and game subscription industries. At that time, there were still quite a lot of media questioning Apple’s ability, but no one expected that the outbreak of the epidemic in 2020, Apple Music, Apple The volume of services such as TV+ and Apple Arcade has soared, and Apple’s revenue has soared.

Following the release of fiscal 2020 second-quarter results, Apple CEO Tim Cook said: “Despite the unprecedented global impact of the coronavirus, we are proud to report that we have Apple grew in the quarter, driven by a record quarter for wearables and wearables. In this difficult environment, users are relying on Apple’s products in new ways to stay connected, informed, and creative. power and productivity. We feel motivated and inspired not only to continue to meet these needs in innovative ways, but to continue to give back to support the global response, from sending out tens of millions of masks and custom face shields to medical professionals around the world, to Donate millions to organizations like Global Citizen and the Food Fund for America.”

Apple Chief Financial Officer Luca Maestri said: “We are proud of Apple’s teams around the world, as well as our business and financial performance during these challenging times. Resilience is proud. Our active equipment installed base reached an all-time high in all geographic markets and across all major product categories. We also generated operating cash flow of $13.3 billion in the quarter, an increase of $2.2 billion from the same period last year USD. We are confident in the company’s future and will continue to make significant investments across all areas of our business to enrich the lives of our customers and support our long-term plans — including a five-year commitment to contribute $350 billion to the U.S. economy.”

Just recently, Apple officially unveiled the new iPhone SE, and Tim Cook said the company has seen positive reactions to the device from reviewers and users. Cook said the iPhone SE is a great value, “faster than the fastest Android phone.”

Apple Announces Second Fiscal Quarter 2020 Earnings

Domestic smartphone sales fell 22% year-on-year in the first quarter, with February being a particularly dismal month, when demand was down 35% from a year earlier, according to the latest data from market research firm Counterpoint Research on Wednesday. However, in the first quarter of 2020, Apple’s iPhone sales in China fell only 1% year over year. The iPhone 11 has been the best-selling model in China for seven consecutive months.

Under the influence of the epidemic, Apple CEO Cook said: We have continued to operate the company, and we have launched the iPhone SE, iPad Pro with Magic Keyboard and MacBook Air. Our business continues, and new products are our lifeblood. Everyone is getting used to working from home, and we are continuing to work hard. Some areas of the company are more efficient, while other areas of work may suffer. But from what we’ve done this quarter, despite the tough times, we’re still working hard because we know our customers need our products. In this day and age, they are even more important.

Although it is Apple’s financial report, we can also see the impact of the epidemic on the global industrial chain. Whether it is China or other countries, I sincerely hope that everyone can tide over the difficulties together.

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