Apple: earnings and revenue exceed expectations in the past quarter

Apple WWDC 2020`
Source: Mashable

Apple ended its fiscal 2020 third quarter on June 27. The company has released a related report yesterday.

Apple: earnings and revenue exceed expectations in the past quarter

During the reporting period, the revenue of $59.685 billion was generated. In annual terms, this indicator increased by 11%. The report clarifies that product sales brought $46.529 billion, and services – the remaining $13.156 billion. International sales accounted for 60% of the quarterly revenue.

Operating income for the year increased from $11.544 to $13.091 billion, and net income increased from $10.044 to $11.253 billion.

Note that operating expenses increased from $8.683 to $9.589 billion, including from $4.257 to $4.758 billion in research and development spending.

iPhones were sold in the quarter for $26.418 billion, Macs for $7.079 billion, iPads for $6.582 billion, wearables, home electronics and accessories for $6.450 billion. By comparison, in the third quarter of the 2019 fiscal year, iPhones sold $25.986 billion, Macs sold $5.820 billion, iPads sold $5.023 billion, and wearable electronics, home electronics and accessories sold $5.525 billion dollars.

Qualcomm hints: Apple iPhone 12 series release will be postponed

Apple usually releases its new iPhones in September each year. However, with all the troubles in 2020, this may not happen this year. According to previous reports, due to tight supply, the launch of the next-generation iPhone 12 series will be postponed to October or November this year. Recently, Qualcomm’s recent statement hints that at least some iPhone 12 models will not be available in September as usual.

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iPhone 12 series

Qualcomm announced its third-quarter financial report and also shared some expectations for the next quarter. In this report, the company claims that the delay of a 5G flagship phone will affect its Q4 shipments. It is worthy of note that Qualcomm’s Q4 covers July, August, and September sales. With this statement, there are speculations that the “5G flagship Phone” is the iPhone 12 series.

In addition, Qualcomm’s CFO, Akash Palkhiwala, also hints that some of Qualcomm’s 5G chips are ready to ship in September. However, the buyer delays the shipment until the end of the year. Although Qualcomm did not mention the names of any company, there are a couple of reasons why many believe that it is referring to Apple.

For starters, Apple’s flagships are one of the few devices with a probably launch date in Septemeber. Secondly, there is barely any other flagship whose purchase will significantly affect Qualcomm’s shipment.

After reaching a $4.5 billion settlement last year, Apple is expected to announce four new iPhone 12 models that support 5G networks this year. All the 5G iPhones will arrive with Qualcomm modems. These iPhone 12 models will include support for two versions of 5G: sub-6GHz 5G and mmWave 5G. However, due to the COVID-19 epidemic, recent reports claim that the iPhone 12 series will be released at the end of October or early November.

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