Apple’s 2nd Quarter Grew Despite Coronavirus Pandemic: Made $58.3 Billion In Revenue, $11.2 Billion In Profit
Apple today shared its numbers for the second quarter of its fiscal 2020 which ended on March 28. Amazingly, the company saw revenue of $58.3 billion and $11.2 billion in profit, an increase of a single percentage point over the same quarter a year ago.
The stellar numbers – considering the impact of coronavirus – was thanks to an increase in Services revenue to the point of achieving a new record. The same goes for Apple’s Wearables category, made up of Apple Watch and AirPods.
“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.
The sales of iPhones were down for the quarter with iPad and Mac sales down slightly. Again, the growing Services category helped prop things up at a time where people can’t head into an Apple Store to browse and buy products. That of course also resulted in a bumper quarter for Apple’s online sales.
Apple Stores around the globe remain closed, although the company did say that it plans to re-open some Austrian and Australian stores within the coming weeks. Stores in Greater China are already open following their own closure earlier in the year.