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Apple's services and wearables reduce impact of Covid-19 on Q2 earnings

By Cookie Monster - on 1 May 2020, 9:00am

Apple's services and wearables reduce impact of Covid-19 on Q2 earnings

The Apple Watch Series 5.

Apple reported growth in its Q2 earnings despite the impact of the Covid-19 pandemic.

It announced revenue of $58.3 billion and a profit of $11.25 billion for fiscal Q2 2020. In comparison, Apple reported $58 billion revenue and $11.56 billion profit in the same quarter last year. Apple initially estimated revenue of between $63 billion and $67 billion, but shared in February that it was unable to meet the revenue guidance due to the coronavirus outbreak.

Nonetheless, the iPhone maker reported strong numbers for its services and wearables businesses. Its services business (e.g Apple TV Plus, Apple Arcade, Apple Music, iCloud) generated an all-time high revenue of $13.35 billion, up from $11.45 billion in the same period last year. Wearables, Home and Accessories set a quarterly record of $6.28 billion. Here are the numbers for other parts of its business: 

  • iPhone: $28.96 billion
  • Mac: $5.35 billion 
  • iPad: $4.37b illion

The company also revealed that its active installed base of devices reached an all-time high in all geographic segments and major product categories.

Source: Apple via 9to5Mac