Apple’s Q2 2020 Earnings: Significant Sales Growth from Services and Wearables, But No Guidance For Q3 Due to COVID-19 Pandemic

Apple reported its financial results for the second quarter of its 2020 fiscal year at 1:30 PDT today. The report will overlook how the co...


Apple reported its financial results for the second quarter of its 2020 fiscal year at 1:30 PDT today. The report will overlook how the company’s sales and quarterly revenue changed during the coronavirus outbreak, from mid-February to March 28th. The quarterly revenue is posted at $58.3 billion dollars, with a 1% increase in comparison with yesteryear’s second quarterly revenue. Earnings from the quarter per diluted share are at $2.55, which is about 4% from last year. Sales internationally accounted for 62% of the quarterly revenue.

Apple CEO Tim Cook reflects the second quarterly sales, including the logistic growth of revenue from the last quarter. He states the sales of wearables and Apple services, which include the Apple Watch and AirPods sales and the use of their services such as the App Store, Apple Music, subscription services, and iMessage, are the factors that helped improve the quarterly revenue as more Apple users stay at home.
“Despite COVID-19’s unprecedented global impact, we’re proud to report that Apple grew for the quarter, driven by an all-time record in Services and a quarterly record for Wearables,” said Tim Cook, Apple’s CEO. “In this difficult environment, our users are depending on Apple products in renewed ways to stay connected, informed, creative, and productive. We feel motivated and inspired to not only keep meeting these needs in innovative ways but to continue giving back to support the global response, from the tens of millions of face masks and custom-built face shields we’ve sent to medical professionals around the world, to the millions we’ve donated to organizations like Global Citizen and America’s Food Fund.”
The Cupertino company took its initiative to resolve the issues of PPE shortages by manufacturing over 7.5 million of their own face shields for hospitals and healthcare facilities worldwide. They donated to national and global charities and organizations such as Global Citizen and America’s Food Fund to allow more food banks and resources to underserved, displaced, and unemployed people. Apple has also let its Apple Card cardholders to pause monthly payments for their credit cards in March and April as the pandemic affected the economy worldwide.

Not only Apple has perceived growth in its quarterly revenue and helped out the health crisis with donations, but the company’s CFO, Luca Maestri, describes the financial performance of the company reported from the second quarter. Maestri interprets the total amount of cash Apple received every day during the second quarter and the company’s obligation to contribute proceeds to the US economy.
“We are proud of our Apple teams around the world and how resilient our business and financial performance has been during these challenging times,” said Luca Maestri, Apple’s CFO. “Our active installed base of devices reached an all-time high in all of our geographic segments and all major product categories. We also generated an operating cash flow of $13.3 billion during the quarter, up to $2.2 billion over a year ago. We are confident in our future and continue to make significant investments in all areas of our business to enrich our customers’ lives and support our long-term plans — including our five-year commitment to contribute $350 billion to the United States economy.”
In the end, Apple’s board of directors has declared the cash earnings of $0.82 per share of the company’s current stock revenue, which is an increase of 6%. Apple shareholders can receive the dividend payment on May 14th as the record of the close of business on May 11. The board has authorized an increase of $50 billion dollars to the existing share repurchase program. The next quarter will not have any guidance on the revenue as the coronavirus outbreak continues to heavily impact the economy globally.

COMMENTS

Name

(Product)RED,2,#Accessory,2,#App Store,1,#Apple,2,#Apple Music,3,#Apple Park,4,#Apple Pay,4,#Apple Security,3,#Apple Watch,10,#Battery,5,#Bug,1,#CarPlay,2,#Cydia,1,#Face ID,1,#Facebook,1,#FM,1,#Games,2,#HomeKit,2,#HomePod,14,#HowTo,5,#iMac,2,#iMac Pro,3,#Intel,2,#iOS,2,#iOS 11,5,#iOS 11.3,6,#iOS 11.4,1,#iOS 12,2,#iPad,2,#iPhone,21,#iPhone 8,1,#iPhone SE,3,#iPhone SE 2,9,#iPhone X,11,#iPhone X Plus,3,#Jailbreak,13,#Lawsuit,1,#Mac,3,#Mac Pro,2,#MacBook,5,#macOS,10,#MFi,1,#Microsoft,1,#OnePlus,1,#Original Content,2,#Patent,3,#Samsung,1,#Self-Driving,2,#Siri,4,#Tim Cook,1,#Touch ID,2,#TSMC,1,#TV,2,#Wallpaper,1,#watchOS,2,#WWDC,3,3D Touch,2,4G,1,5G,21,A,1,A11,2,A12,9,A13,3,A14,5,A14. iPhone 2020,1,A16,1,AAPL,18,ABC News,1,Accessibility,1,Accessories,87,Accessory,3,Activity,1,Ad,6,Adobe,4,Ads,3,AI,1,Airbnb,1,AirDrop,1,AirPlay,3,AirPlay 2,2,AirPod,2,AirPod Pro,1,AirPods,51,AirPods 2,5,AirPods 3,6,AirPods Pro,14,AirPods Studio,4,AirPort,4,AirPower,26,AirTag,4,AirTags,9,Amazon,11,AMD,2,Android,19,Antitrust,1,App,46,App Store,36,Apple,1950,Apple Arcade,11,Apple Books,1,Apple Camp,1,Apple Car,3,Apple Card,25,Apple Design Awards,2,Apple Event,34,Apple Events,3,Apple Glasses,3,Apple ID,4,Apple Intelligence,1,Apple Map,2,Apple Maps,11,Apple Music,43,Apple News,3,Apple News+,6,Apple One,3,Apple Park,9,Apple Pay,30,Apple Pay Cash,3,Apple Pencil,7,Apple Retail,12,Apple Security,20,Apple Store,56,Apple TV,36,Apple TV+,33,Apple Wacth,1,Apple Watch,157,Apple Watch 6,7,Apple Watch SE,1,Apple Watch Series 7,1,Apple. Chip,1,AppleCare+,1,Applle,1,Apps,2,AR,16,AR Glasses,13,ARM,18,Bands,4,Battery,33,Beats,11,Beddit,1,Best Buy,1,Beta,31,Bill Gates,1,Black Friday,2,Bloomberg,2,Boot Camp,1,Bose,1,Bug,18,Cable,4,Camera,12,Campis,1,Campus,1,Car,3,CarKey,1,CarPlay,7,Carpool Karaoke,3,Cases,1,CCC,1,CES,4,Charger,5,China,18,Chip,3,Chrome,2,Coding,1,Concept,8,Consumer Reports,1,Coronavirus,45,CPU,1,Credit Card,1,Cydia,1,Dark Sky,2,Deals,8,Developer,7,Dialog,1,Display,2,Dongles,2,Earnings,20,EarPods,1,Economy,2,Edge,1,Education,5,Emoji,11,Environment,8,eSIM,1,EU,3,EU. News,1,Event,7,Events,4,Exploit,1,Face ID,20,Facebook,1,FaceTime,4,FBI,2,FCC,4,featured,12,Final Cut Pro,3,Firefox,1,Fitbit,1,FM,2,Foldable,1,Foldable iPhone,6,Fortnite,4,Forum,1,Foxconn,5,France,2,Galaxy S9,1,Game,3,Games,6,gaming,7,Geekbench,2,Germany,1,Gift,1,Gift Card,1,Google,31,Hack,7,Haptic Touch,2,Headphones,9,Health,32,HomeKit,10,HomePod,45,HowTo,78,Huawei,5,iCloud,13,iFixit,11,iMac,12,iMac Pro,3,iMessage,2,India,13,Intel,15,iOS,141,iOS 10,1,iOS 11,13,iOS 11.3,2,iOS 11.4,2,iOS 12,93,iOS 12.1,3,iOS 12.4,1,iOS 13,72,iOS 13.1,8,iOS 13.1.1,1,iOS 13.1.2,1,iOS 13.1.3,1,iOS 13.2,6,iOS 13.2.2,3,iOS 13.2.3,1,iOS 13.3,12,iOS 13.3.1,6,iOS 13.4,9,iOS 13.4.5,3,iOS 13.5,8,iOS 13.5.5,1,iOS 13.6,4,iOS 13.6.1,1,iOS 13.7,2,iOS 14,48,iOS 14.0.1,1,iOS 14.1,1,iOS 14.2,4,iOS 14.2.1,1,iOS 14.3,2,iOS 14.4,3,iOS 14.4.1,1,iOS 14.5,3,iOS 15,2,iOS 16,1,iOS 16.4,1,iOS 18,1,iOS 9,1,iOS beta,3,iOS11,32,iOS12,2,iPad,97,iPad 8,1,iPad Air,8,iPad Mini,2,iPad Pro,65,iPadOS,17,iPhone,250,iPhone 11,31,iPhone 11 Pro,13,iPhone 11 Pro Max,9,iPhone 12,15,iPhone 12 mini,2,iPhone 12 Pro,6,iPhone 13,3,iPhone 13 Pro,1,iPhone 14 Pro,1,iPhone 16,1,iPhone 20020,1,iPhone 2018,34,iPhone 2019,51,iPhone 2020,97,iPhone 2021,10,iPhone 2022,3,iPhone 2023,1,iPhone 3GS,1,iPhone 8,4,iPhone 8 Plus,1,iPhone 9,11,iPhone OS,1,iPhone SE,3,iPhone SE 2,26,iPhone SE 3,1,iPhone X,89,iPhone X Plus,1,iPhone XE,1,iPhone XR,32,iPhone XS,37,iPhone XS Max,4,iPhone2018,5,iPhones,3,iPhoneSE2,1,iPhoneX,1,iPod,6,iPod touch,8,iTunes,12,iWork,1,Jailbreak,25,Jony Ive,6,KaiOS,1,Keyboard,8,KGI,11,Kuo,40,Laptop,3,Lawsuit,11,LCD,1,Leadership,1,Leak,15,LG,9,Live Radio,1,Logic Pro X,3,Logo,2,Luna Display,1,M1,3,Mac,92,Mac App Store,1,Mac Mini,5,Mac OS 8.1,1,Mac Pro,18,MacBook,53,MacBook Air,21,MacBook Pro,69,macOS,77,macOS 10.14,33,macOS 10.15,38,macOS 10.16,1,macOS 11,12,macOS Big Sur,8,macOS Catalina,14,Magic Keyboard,2,Maps,2,Market,1,Media,1,Micro-LED,1,Microsoft,13,Mini-LED,7,Mother’s Day,1,MR,1,Music,1,Netflix,2,News,754,Newsm,1,NFC,1,Nike,2,Nomad,1,Notch,1,Nvidia,1,Office,1,OLED,7,Original Content,18,OS X,1,P30,1,Pangu,1,Patent,36,Patents,4,PC,2,Pixel,4,Pixel Slate,2,Podcast,3,Powerbeats,10,Privacy,19,Pro Display XDR,4,Project Titan,2,ProRes Raw,1,Qualcomm,12,RAM,3,Refurbished,5,Render,1,Repair,3,Reports,3,Retail,2,Review,2,Roku,1,Rumors,19,Safari,6,Samsung,31,SECURITY,25,Self-Driving,3,Services,6,Shazam,4,Shopping,1,Shortcuts,3,Singapore,1,Siri,22,Smartphones,7,Software,4,Spotify,8,Sprint,2,Steve Jobs,6,Stock,26,Subscription,6,Supply Chain,1,Support,27,Swift,1,T-Mobile,3,Tablet,1,TANT,2,TeamViewer,1,Technology,1,Tesla,2,TestFlight,1,Texture,2,TikTok,2,Tim Cook,39,Touch Bar,2,Touch ID,7,Tracker,2,Trade-In,1,Trump,6,TSMC,13,TV,4,TV+,2,tvOS,43,tvOS 12,23,tvOS 13,36,tvOS 13.2,1,tvOS 14,19,tvOS12,2,Twitter,2,UK,1,US,1,USB-C,3,VBucks,1,Verizon,1,Verzion,1,Video,1,VirnetX,1,Vision Pro,1,VR,4,Wallpaper,17,watchOS,53,watchOS 5,25,watchOS 6,39,watchOS 7,27,watchOS 8,1,Webcam,1,WiFi,1,Windows,4,Wireless Charging,16,WWDC,35,Xcode,3,Xiaomi,1,YouTube,3,
ltr
item
Loveios: Apple’s Q2 2020 Earnings: Significant Sales Growth from Services and Wearables, But No Guidance For Q3 Due to COVID-19 Pandemic
Apple’s Q2 2020 Earnings: Significant Sales Growth from Services and Wearables, But No Guidance For Q3 Due to COVID-19 Pandemic
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKO1LQyfdoenXaIGRHulC5p7KcVu6sazO2lHPXN17R1VQ98xjpemtXXIz_2pDLq398ttTLQbnoOyB9t9iCiSmsyWikrLr28swR2JmvHhO1SrUzJyxKjaqGGfFW51JuA1JFYcXylM0TmpQ/s1600/602840A7-13DA-4A4E-8DE8-25B147C214F9.jpeg
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKO1LQyfdoenXaIGRHulC5p7KcVu6sazO2lHPXN17R1VQ98xjpemtXXIz_2pDLq398ttTLQbnoOyB9t9iCiSmsyWikrLr28swR2JmvHhO1SrUzJyxKjaqGGfFW51JuA1JFYcXylM0TmpQ/s72-c/602840A7-13DA-4A4E-8DE8-25B147C214F9.jpeg
Loveios
https://www.loveios.net/2020/05/apples-q2-2020-earnings-significant.html
https://www.loveios.net/
https://www.loveios.net/
https://www.loveios.net/2020/05/apples-q2-2020-earnings-significant.html
true
1784436446950495761
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content