Apple announced its Q4 2020 financial results (Q3 calendar quarter) in which it reported revenues of $64.7 billion and a quarterly profit of $12.7 billion. While the revenue has increased from $64 billion in the same quarter from 2019, the profit has gone down by $1 billion as Apple had a profit of $13.7 billion in Q4 2019.
Apple set a new record for the September quarter in terms of revenue, with the Services and Mac business also generating record revenues. For the full fiscal year, Apple recorded revenues of $274.5 billion with a net profit of $57.4 billion — that’s up from $260.2 billion in revenues in 2019 and $55.3 billion in profit from the previous year. International sales accounted for 59% of Apple’s total sales.
“Apple capped off a fiscal year defined by innovation in the face of adversity with a September quarter record, led by all-time records for Mac and Services,” said Tim Cook, Apple’s CEO. “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. From remote learning to the home office, Apple products have been a window to the world for users as the pandemic continues, and our teams have met the needs of this moment with creativity, passion, and the kinds of big ideas that only Apple can deliver.”
Despite the delayed launch of the iPhone 12 series, Apple’s Q4 revenues were not affected thanks to the growth of its Services and Mac business. The latter has seen an uptick in consumer demand because of the work from home scenario that has become prevalent due to the ongoing pandemic. Apple is also not providing any earnings guidance for Q1 2021 due to the pandemic.[Via Apple]