Apple sets September quarter sales record despite pandemic
29 October 2020
Apple on Thursday reported quarterly sales and earnings that narrowly exceeded analysts estimates as the iPhone maker continued to see strong demand amid the COVID-19 pandemic.
What they's saying: The company said response to new products, including the iPhone 12 has been "tremendously positive" but did not give a specific forecast for the current quarter.
Why it matters: Apple continues to be a bellwether for the smartphone business and broader tech industry.
Details: Sales of the iPhone were down sharply from a year ago as Apple delayed the launch of the new lineup from late in the September quarter to October, meaning the first results for the new iPhone won't show up until the company's January report.
By the numbers:
- Revenue: $64.7 billion (vs. $64.16 billion consensus analyst expectation)
- Earnings per share: 73 cents (vs. 71 cents analyst expectations)
- iPhone revenue: $26.4 billion (vs. 33.3 billion a year ago)
- Mac: $9 billion (vs. $7 billion a year ago)
- iPad: $6.8 billion (vs. $4.7 billion a year ago)
- Services: $15.5 billion (vs. $12.5 billion a year ago)
- Wearables, home and accessories: $7.9 billion (vs. $6.5 billion a year ago)
What they're saying: "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," CEO Tim Cook said in a statement.
Transcripts show George Floyd told police "I can't breathe" over 20 times
Section2Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.
Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.
The state of play: The transcripts were released as former officer Thomas Lane seeks to have the charges that he aided in Floyd's death thrown out in court, per the Times. He is one of four officers who have been charged.
- The filings also include a 60-page transcript of an interview with Lane. He said he "felt maybe that something was going on" when asked if he believed that Floyd was having a medical emergency at the time.
What the transcripts say:
- Floyd told the officers he was claustrophobic as they tried to get him into the squad car.
- The transcripts also show Floyd saying, "Momma, I love you. Tell my kids I love them. I'm dead."
- Former officer Derek Chauvin, who had his knee on Floyd's neck for over eight minutes, told Floyd, "Then stop talking, stop yelling, it takes a heck of a lot of oxygen to talk."
Read the transcripts via DocumentCloud.