Apple Q2 2020 Results: $58B Revenue, but No Guidance for Next Quarter

Jason Snell:

Apple on Thursday announced that it generated $58B in revenue during its second fiscal quarter. Services revenue was up again, wearables revenue was up again, and iPhone, Mac, and iPad were down. The company declined to give guidance on what it thought would happen during the current quarter, given how uncertain the world economy and pandemic situation are.

Charts! We’ve got many of them below.

Two quick notes that jumped out at me:

  • Services (23%) now account for quite a bit more of Apple’s revenue than Mac and iPad combined (9% and 7%).

  • The iPhone fell at exactly 50% of revenue. Services will soon be half as big a business as iPhone. Part of this is that iPhone revenue was down 7% year-over-year, and Services revenue isn’t cyclical and simply continues to grow. It was never true from a functional standpoint, but even from a financial standpoint, Apple should no longer be seen as The iPhone Company.

Thursday, 30 April 2020