Apple Posts Record Quarterly Results in India; Services and Mac Witness All-Time High
Apple. (Image Credit: Reuters)
Apple announced its quarterly results in an earnings call on Thursday, October 29. The Cupertino-based giant said that the July-September quarter saw record revenues at $64.7 billion (roughly Rs. 4.82 lakh crores) despite the coronavirus pandemic, due to strong sales in international markets like India and record revenues from its Mac computers and services. Apple CEO Tim Cook, during the earnings call with investors said that the company set September quarter records in India, thanks in part to a very strong reception of the company's recently launched official online store.
“Geographically, we set September quarter records in the Americas, Europe and rest of Asia Pacific," Cook said. Cook said that despite the COVID-19 pandemic, Apple is in the midst of its most prolific product introduction ever, since the early response to all of the company's new products has been 'tremendously positive.' “From remote learning to the home office, Apple products have been a window to the world for users as the pandemic continues, and our teams have met the needs of this moment with creativity, passion, and the kinds of big ideas that only Apple can deliver,” Cook was quoted as saying.
Further, Cook also expressed optimism towards the response the new iPhone 12 lineup is getting. "It is the strongest lineup we’ve ever had by far. We do have a very large, loyal and growing install base and we’re also reaching out to switchers. And so I’m very optimistic there," he said. Cook also said that Apple is currently supply constrained on its Mac, iPad, and Apple Watch products apart from the latest iPhones. Cook said that these constraints give Apple a fair number of areas to focus on right now and the company is working hard towards a remedy.
Apple announced its quarterly results on October 29. The company said that it witnessed record $64.7 billion in revenues in the September quarter despite the pandemic. Further, Apple said that the revenue from its Mac computers and services reached an all-time high in the previous quarter. Apple said that international sales accounted for 59 percent of its revenue.