Apple Q3 2020 earnings call | iPhone SE drives sales; iPad, Mac record massive growth during pandemic
Apple sales that had dipped during April picked up later on strong demand for the low-cost iPhone SE 2020 and for other products like iPad and Mac due to work from home
July 31, 2020 / 11:13 AM IST
Apple recorded double-digit growth during the third quarter of 2020, generating $59.7 billion in revenue. While the Street expected the pandemic to disrupt sales, Apple surprised them with its sales figures that grew double-digit year-on-year. The iPhone SE 2020, launched earlier this year in March, has been attributed as a key growth driver for iPhone sales.
According to the official revenue details released by Apple, iPhone sales grew nearly two percent year-on-year, generating over $26.4 billion. The company took a major hit in sales during April owing to the pandemic but the increasing demand for the low-cost iPhone SE 2020 helped.
Not just the iPhone but the iPad and Mac too saw record growth during the same quarter, owing to the increasing demand as people continue to work from home. Mac sales brought in $7 billion, up from $5.8 billion last year, while iPad sales were at $6.5 billion, up from $5 billion in the same quarter last year.
Apple CEO Tim Cook told the media that Apple is working hard to get more iPads and Macs into the hands of customers, so sales could see continued growth in the fourth quarter as it appears many people will continue working from home for the foreseeable future.
Apple’s Others category, which includes AirPods and the Apple Watch, grew over 16 percent from the same quarter in 2019.