Earnings season is underway, and today Apple reported the results for its fiscal second quarter.
Apple says that during the three-month period ending March 28, 2020, it pulled in $28.7 billion in revenue from iPhone sales, which is slightly down from the $31.0 billion it got in the year-ago quarter. iPad sales revenue slipped, too, going from $4.9 billion in Q2 2019 to $4.4 billion in Q2 2020.
Things were better for Apple in the Wearables, Home, and Accessories category, which includes products like the Apple Watch and AirPods. Here Apple brought in $6.3 billion in revenue in Q2 2020, up from $5.1 billion in Q1 2019. Apple touts that this is a quarterly record for its Wearables category.
The Services category grew year-over-year, too. Services includes things like Apple Music, AppleCare, and the App Store, and this category earned $13.3 billion in Q2 2020, up from $11.5 billion in Q2 2019. That's an all-time record for its Services category, says Apple.
Finally, Mac sales dipped a bit YoY, going from $5.5 billion in Q2 2019 to finish at $5.4 billion in Q2 2020.
Overall revenue for the quarter settled at $58.3 billion, which is a 1% increase from the $58.0 billion Apple got in the year-ago quarter. Net income for the quarter finished at $11.3 billion, down slightly from the $11.6 billion that Apple got in Q2 2019.
"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 Apple CEO Tim Cook. "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."
As usual, Apple will be holding a conference call to discuss its quarterly results with analysts this afternoon. We'll be listening in and will report back with any interesting pieces of info that Apple may drop.
UPDATE: Apple revealed a few interesting tidbits during its earnings call, like the fact that Apple News is now at 125 million monthly users. The company also said that the active install base for iPhone is now at an all-time high and that half of the people who bought an iPad in Q2 2020 were new to the product.
