Apple Q4 2020 Financial Results: The iPhone Falls

Apple reports financial results for the fourth quarter of its fiscal year 2020. This corresponds to the third quarter in our calendar (July-September). This time was hectic with the Covid-19 as in the previous quarter.

Apple had sales of $ 64.7 billion compared to $ 64 billion in the previous year. This corresponds to an increase of 1.09%. Net income was $ 12.67 billion, down from $ 13.69 billion previously. The decrease is 7.4%. Based on earnings per share, it’s $ 0.73. A year ago it was $ 3.03. Analysts were expecting sales of 63.7 billion US dollars and earnings per share of 70 cents.

Here is the detail:

iPhone: Sales of $ 26.44 billion (-20.74% year-on-year) Mac: $ 9.03 billion (+ 29.18%) iPad: $ 6.80 billion in sales (+ 50%) ) Apple Watch and other accessories: $ 7.88 billion (+ 16.67%) Services (iCloud, Apple Music, App Store, etc.): $ 14.55 billion (+16, 67%)

There are two negatives with the results. The first is the pretty big drop for the iPhone. With the iPhone 12, it could start all over again for the current quarter, but it has yet to be reviewed. The second point is China. Local sales decreased 36% in one quarter.

For the full 2020 fiscal year, revenue was $ 274.52 billion and net income was $ 57.41 billion. By comparison, Apple had fiscal 2019 revenue of $ 260.17 billion and net income of $ 55.27 billion.

Tim Cook sees the good side

“Apple has closed a year of innovation, despite adverse circumstances, with a record for the September quarter, which is led by records with the Mac and the services,” said the Apple manager. “Despite the ongoing effects of Covid-19, Apple is in the process of bringing its most productive products to market and the early response to all of our new products, especially our first line of 5G iPhones, has been overwhelmingly positive. », Assures Tim Cook. He adds that “during Covid-19 our teams responded to the needs” “with creativity, passion and the great ideas that only Apple can offer”.

AAPL negative

Apple’s stock fell 3.36% to $ 111.44 after the session on the exchange. Shareholders have some concerns about the situation with the iPhone and China.

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