Despite The COVID-19 Pandemic, Apple Sales Increased By 11% During Q2 2020
The pandemic had shaken physical businesses up and while Apple was not exempted, the company still saw sales increase by 11 per cent.
While it is understandable that online businesses like Apple and Facebook would see revenue increase as already reported; Apple’s sales increase and revenue gain comes as a bit of surprise.
The iPhone makers had faced several obstacles during the first half of the year. Lockdown restrictions meant that its stores in the US stayed closed for long periods. It also had to close some stores during the Black Lives Matter protests in June.
Yet, according to the company’s earnings call on Thursday 30th July 2020, it made a revenue of $59.69 billion during Q2 2020. This is $7 billion more than its estimated revenue of $52.25 billion.
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– Amazon Announces Making Almost $89 Billion In Revenue During Q2 2020
While some experts argue that Apple has other businesses besides physical sales, it also saw an increase in the physical sales front. iPhone revenue during the period was $26.42 billion, which is higher than its $22.37 billion projection.
Speaking to analysts, Apple CEO Tim Cook said; “We’re conscious of the fact that these results stand in stark relief during a time of real economic adversity for businesses large and small, and certainly for families.”
Cook had been among the four tech bosses that the US antitrust committee had quizzed on Wednesday 29th July 2020. While he seemed to give account for his company properly, the decisions of the committee may not favour Apple when they are announced.
Additionally, Apple had seen iPad sales generate a revenue of $6.58 billion and Macs bring in $7.08 billion. All of which are higher than its estimate for the period. The company refused to say what it expects from Q3 2020.
But since its iPhone release in September will be delayed, it may struggle to do better than it had done in the past quarter.
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