Apple released its fiscal Q4 2020 earnings, the figures are pretty impressive. Through a press release, the Cupertino-based company’s revenue showed they achieved two milestones.
In their fourth fiscal quarter that comprises; October, November, and December, Apple grossed revenue of up to $114 billion. In addition to surpassing the revenue mark, Apple’s CEO Tim Cook revealed there are over 1 billion active iPhone users for the first time in the company’s history.
They also recorded $28.6 billion in profits. A 21% increase compared to 2020’s Q1 profit. It’s not surprising considering they had double-digit sales increases in every single product category.
The iPhone business did well as sales surged over the holiday season. iPhones make up to 65.6 billion of the Q1 revenue. This can be attributed to the launch of iPhone 12 models that customers were eager to snatch up.
The Tech-giant didn’t rely on iPhone alone, as each of the company’s other divisions recorded earnings that rose by at least 20%. The launch of new products such as the iPad Air, the new M1 Macbook Air, and Mac Mini gave the company a revenue boost.
Apple also reported 15.76 billion in revenue from services and 12.97 billion in revenue from the wearables and accessories department.
Alfred Gitonga is a passionate tech news writer with a deep interest in smartphones and related technologies. He is a staff writer at Mobitrends.co.ke.
