Apple earned a staggering $58.3 billion during the second quarter of its 2020 fiscal year, $13.3 billion of which derived from Apple Music and other services.
The Cupertino-based company revealed its second-quarter fiscal year (comprised of the three months ending on March 28th) financial performance earlier today.
$45 billion or so of the brand’s Q2 FY earnings are attributable to products, including $29 billion worth of iPhone sales. Both product and iPhone income decreased slightly from last year’s second fiscal quarter, but have largely held strong amid the coronavirus (COVID-19) crisis.
Apple Music and other services experienced a nearly $1.9 billion surge year over year, and their $13.3 billion in quarterly earnings set a new all-time record. Additionally, wearables like AirPods, along with home products, and accessories, substantially outearned the Mac and the iPad, which accounted for roughly $5.4 billion and $4.4 billion of Apple’s Q2 FY 2020 income, respectively. Wearables, home items, and accessories produced some $6.3 billion in revenue during the same period.
Apple’s total net sales during Q2 2020, at $58.3 billion, once again, were nearly identical to the $58 billion figure delivered by the same three-month period in 2019. Interestingly, however, net sales dropped year over year in the Americas, Greater China, and Japan, while European sales grew by about $1.24 billion.
Addressing his company’s second-quarter fiscal year figures, Apple CEO Tim Cook said: “Despite COVID-19’s unprecedented global impact, we’re proud to report that Apple grew for the quarter, driven by an all-time record in Services and a quarterly record for Wearables.” That was only slightly reassuring to investors, however, given that the real economic brunt of the COVID-19 started in April.
CEO Cook also noted the ways that Apple has given back to those fighting the coronavirus crisis, including by donating to America’s Food Fund.