Apple Sets September Quarter Record

Posted on October 29, 2020 by Paul Thurrott in Apple with 15 Comments

Apple announced today that it earned a net income of $12.7 billion on revenues of $64.7 billion in the quarter ending September 30. The revenue figure is a record for the September quarter, Apple says.

“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,” Apple CEO Tim Cook said. “Despite the ongoing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period ever … 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.”

The iPhone remains Apple’s biggest business, of course, and in this quarter, it contributed $26.4 billion in revenues, or about 41 percent of Apple’s total revenues. That figure is considerably lower than the $33.4 billion that iPhone took in during the year-ago quarter, but this year Apple launched new iPhones later than it had in past years.

Services surged into second place with $14.5 billion in revenues, with Mac ($9 billion), Wearables ($7.9 billion), and iPad ($6.8 billion) bringing up the rear.

Join the discussion!

BECOME A THURROTT MEMBER:

Don't have a login but want to join the conversation? Become a Thurrott Premium or Basic User to participate

Register
Comments (15)

15 responses to “Apple Sets September Quarter Record”

  1. earlster

    "net income of $12.7 billion on revenues of $64.7 billion"

    That's a ridiculous margin of 19.6%, not a lot of companies get margins like that.

  2. jedwards87

    The numbers that were announced yesterday were massively better than the headlines suggested considering the iPhone 12 was delayed.

    • Chris_Kez

      In reply to jedwards87:

      These results predate the iPhone 12 announcement. The impact of iPhone 12 sales will be seen in January when Apple reports results for the holiday quarter.

    • Paul Thurrott

      I'm not sure about headlines, but everyone should understand that the iPhone 12 models were announced a month later than usual and were (will be) released one to two months later than usual and outside of that quarter.
  3. Martin Sjöholm

    In reply to truerock2:

    I have not had any issue. See my separate post

  4. Martin Sjöholm

    In reference to an earlier post in this thread: Here I am on a Surface Pro X with Windows 10 2004 adding new posts like crazy!

  5. codymesh

    greatest global recession for everyone, except for the megacorporations.


  6. Noel

    I didn't think I'd see the day that Microsoft once again beat Apple in quarterly income.

  7. lvthunder

    In reply to truerock2:

    I can only reply to someone's comments. I've opened a ticket, but they haven't been able to fix it.

  8. helix2301

    I remember when rumors where that Apple was selling off their computer business because of the success of the iPhone and iPad now its their third biggest revenue generator. Still behind the iPhone but still a good business for Apple. Bigger than wearables and iPad.

    • nine54

      In reply to helix2301:


      Even though their computer business might not have the same growth or TAM as their other markets, Apple's laptops/desktops contribute to the overall "stickiness" of the Apple ecosystem and give customers something else to purchase.

    • Paul Thurrott

      This is the same temporary dynamic we see with Windows PCs this year: Sales are up because of COVID. It's not a permanent thing.
  9. Paul Thurrott

    Please stop doing this.