Apple Reports 4Q 2020 Results: $12.7B Profit on $64.7B Revenue

Apple today announced financial results for the fourth fiscal quarter of 2020, which corresponds to the third calendar quarter of the year.

For the quarter, Apple posted revenue of $64.7 billion and net quarterly profit of $12.7 billion, or $0.73 per diluted share, compared to revenue of $64.0 billion and net quarterly profit of $13.7 billion, or $0.76 per diluted share, in the year-ago quarter. Apple set a new record for September quarter revenue, as well as all-time quarterly records for Services and Mac revenue.

Gross margin for the quarter was 38.2 percent, compared to 38.0 percent in the year-ago quarter, with international sales accounting for 59 percent of revenue. Apple also declared a quarterly dividend payment of $0.205 per share, payable on November 12 to shareholders of record as of November 9.

For the full fiscal year, Apple generated $274.5 billion in sales with $57.4 billion in net income, compared to $260.2 billion in sales and $55.3 billion in net income for fiscal 2019.“Apple capped off a fiscal year defined by innovation in the face of adversity with a September quarter record, led by all-time records for Mac and Services,” said Tim Cook, Apple’s CEO. “Despite the ongoing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period ever, and the early response to all our new products, led by our first 5G-enabled iPhone lineup, 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.”As has been the case for the past several quarters, Apple is once again not issuing guidance for the current quarter ending in December, as considerable uncertainty surrounding the global health situation’s impact remains.

Apple will provide live streaming of its fiscal Q4 2020 financial results conference call at 2:00 p.m. Pacific, and MacRumors will update this story with coverage of the conference call highlights.
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Author: MacRumors Staff