Apple reports Q4 2020 earnings: $64.7B in revenue and $12.7B in net profit

Appleosophy|Apple reports Q4 2020 earnings: $64.7B in revenue and $12.7B in net profit
Appleosophy|Apple reports Q4 2020 earnings: $64.7B in revenue and $12.7B in net profit
Image Via Apple.com

Apple today announced its fiscal 2020 fourth-quarter financial results. During the quarter, the company posted revenue of $64.7 billion, while the net profit was $12.673 billion, compared with last year’s $13.686 billion in the same period, suggesting Apple didn’t gain as much profit as they usually do.

“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.”

Specific to different categories, the iPhone failed to deliver better performance in the fourth quarter due to the delayed launch of the iPhone 12 lineup, and ultimately recorded sales of $26.44 billion. This, compared with $33.362 billion in the same period last year, marks a decline of approximately 20%.

However, the performance of other categories is dazzling. Among them, Service revenue was $14.5 billion, a year-on-year increase of 16%; Mac sales were $9.032 billion, a year-on-year increase of 29%; Wearables, Home, and Accessories sales were $7.88 billion, a year-on-year increase of 20.8%; iPad sales were $6.797 billion, an increase of 46% year-on-year.

Like always, Apple’s Board of Directors has declared a cash dividend of $0.205 per share of the Company’s common stock, which is payable on November 12, 2020, to shareholders of record as of the close of business on November 9, 2020.

Appleosophy|Apple reports Q4 2020 earnings: $64.7B in revenue and $12.7B in net profit
Author: Jing Moreno

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Appleosophy|Apple reports Q4 2020 earnings: $64.7B in revenue and $12.7B in net profit
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