How Apple made money in the middle of a crushing pandemic

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Apple reports another quarter of record revenue for Q3 2020. Can nothing stop the Cupertino juggernaut?
Can nothing stop the Cupertino juggernaut?
Photo: Bill Oxford/Unsplash CC

People around the world turned to Apple products at the beginning of the COVID-19 crisis. And the result was an 11% increase in Apple revenue during the June quarter. Some products contributed to that growth more than others.

The pandemic sent people buying Mac and iPad in huge numbers. But it hurt handset sales, despite a relatively strong launch for the iPhone SE. And Apple services experienced something of an off quarter, too.

Even COVID-19 can’t slow Apple’s moneymaking machine

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Apple made it through its financial Apple Q3 2020 with flying colors.
Apple brought in far more money than expected recent during the April-to-June quarter.
Photo: Ed Hardy/Cult of Mac

Apple took in $59.7 billion in revenue last quarter, an annual increase of 11%. That solidly beats the estimates of analysts, who predicted a drop in revenue as the iPhone-maker, and the rest of the world, grappled with the COVID-19 pandemic.

Very strong increases in revenue from Mac and iPad significantly pushed up the total.

What to expect from Apple’s pandemic-afflicted earnings report

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Apple Q3 2020 earning results come out July 30.
Apple Q3 2020 earnings were almost certainly pushed up by the iPhone SE and weighed down by COVID-19.
Photo: Ed Hardy/Cult of Mac

When Apple reports its fiscal third-quarter earnings Thursday, the world will learn how the company is doing in the middle of a global pandemic.

Analysts predict a drop in revenue. But Apple itself previously said it’s seeing an increase in Mac and iPad sales. And investors have pushed the stock up almost 30% this year.

Apple earnings on Thursday: Here’s what to watch for

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Apple.logo.paris.store
Apple will want to quickly forget about its fiscal second quarter earnings results and move on.
Photo: Josh Davidson for Cult of Mac

Apple reports its fiscal second-quarter earnings results Thursday afternoon, and chances are good that Cupertino will be glad to see the first three months of 2020 fade into history.

Having said that, things might not be as bad as many expect due to the ongoing COVID-19 pandemic. Oh, there won’t be any record-breaking figures, but there are some pretty good indicators that the news won’t be all doom and gloom.

As is always the case, though, the devil will be in the details. Apple’s conference call after issuing its Q2 2020 earnings report will be even more interesting than the numbers themselves.

Apple’s first earnings report during COVID-19 pandemic set for April 30th

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Apple earnings
Circle April 30, 2020 on your calendar.
Photo: Ste Smith/Cult of Mac

Investors won’t get their first glimpse at just how badly the COVID-19 pandemic hurt Apple’s business until the very end of April.

April revealed this afternoon that it will host a conference call with investors on Thursday, April 30, at 2 p.m. Pacific. The company said in February that it expects revenues to come in lower than its guidance due to the coronavirus outbreak that shut down Apple’s stores and production pipeline during the quarter.

Wall Street analysts go all-out bullish on record Apple earnings

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Bullish Apple analysts aren’t panicking about coronavirus…yet
With strong iPhone sales and improvements in China consumer sales, Wall Street analyst can't say enough good things about Apple.
Photo: Brad Gibson/Cult of Mac

Apple’s first-quarter results have triggered confidence among analysts that the future of the company is stronger than ever on the back of the iPhone.

Wall Street analysts began reporting Wednesday their thoughts on the tech giant – everything from strong sales growth in China, to rumors of a new low-cost iPhone to a 5G-ready mobile later this year.

iPhone 11 propels Apple to another record-breaking quarter

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apple earnings
Apple's money-making machine is on a new level.
Photo illustration: Steve Smith/Cult of Mac

Apple’s first earnings report of 2020 saw the company hit a new all-time record for revenue made in a quarter thanks to stronger than expected iPhone sales.

The iPhone-maker brought in $91.8 billion during the holiday quarter which has the stock soaring in after-hours trading. Worries over how the coronavirus in China might affect Apple’s production throughout 2020 had Wall Street worried yesterday and based on Apple’s guidance for Q2 2020, the company doesn’t seem overly concerned it will have a big impact on profits yet.

5 big questions heading into Apple’s first earnings report of 2020

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Earnings call
Apple's Q1 2020 earnings report will probably break some records.
Photo: Jim Merithew/Cult of Mac

Apple’s first earnings report of the decade is barely 24 hours away, and Wall Street is praying for another historic quarter.

After defying gravity for the last 12 months, Apple’s soaring stock price suffered its biggest single-day loss in more than six months today. Tuesday’s Q1 2020 earnings, which will cover sales from the 2019 holiday season, could provide the jolt AAPL shares need to start jumping up the charts again. However, certain hot topics — and what Apple says about them — could signal a downturn ahead.

Today in Apple history: iPod drives profits to new heights

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iPod
The iPod was kind of a big deal in 2005.
Photo: Jim Merithew/Cult of Mac

January 12: Today in Apple history: iPod drives Apple profits to new heights January 12, 2005: Apple reports record earnings for the preceding three months, with holiday sales of the iPod and demand for the latest iBook giving the company a four-fold increase in profits.

Apple brags that it has sold a total of 10 million iPods, and rightly so. The massive popularity of the portable music player drives Apple to its highest earnings ever.