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Apple sets September quarter sales record despite pandemic

Oct. 29, 2020 08:49PM EST
Dan Ackermann

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.

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