Apple records most profitable quarter ever as sales hit $111bn despite the COVID-19 pandemic
Record iPhone sales have helped Apple deliver revenues of more than $100bn over the Christmas quarter.
Apple’s results beat Wall Street estimates as demand from stay-at-home consumers also boosted its Mac
computers and iPad tablets in the three months to 26 December.
Apple now counts more than 1.65 billion active devices globally, including more than 1 billion iPhones.
Apple said the record follows the release of its new iPhone 12 suite of phones, which convinced a record number
of people to switch to the company or upgrade from older models.
The firm also said growth in China was particularly strong, helped in part by demand for phones with
new 5G networks.
Sales in the firm’s greater China region, which includes Hong Kong and Taiwan, jumped 57%. In Europe,
sales roles 17%, and they rose 11% in the Americas.
“The products are doing very well all around the world,” said Luca Maestri, Apple’s chief financial officer.
“As we look ahead into the March quarter, we’re very optimistic.”
As other companies have struggled to survive, Big Tech has flourished during the pandemic.
There are other reasons for some of these incredible figures. Certainly, it seems iPhone enthusiasts were
holding out for the new 5G enabled iPhone12.
Covid-19 means people are spending more time indoors buying things online, watching things online
and chatting online.
Facebook on Wednesday, January 27, also announced that increased online shopping during the pandemic
helped lift ad revenue in the quarter by 30%.
The number of people active on its apps – which also include WhatsApp and Instagram – also rose to 2.6 billion
daily, up 15% compared to 2019.