Apple Q4 2020 financial results. Services set a new record — 2022

Apple presented its quarterly accounts for the third quarter of 2020 on October 29, despite the fact that Q4 2020 is considered within Apple's taxation. These accounts set a new revenue record compared to the previous year despite the fact that the iPhone is not done shining. We tell you all the details below.

Services and Mac set new revenue record

Humanity is still immersed in a great pandemic due to SARS-COV2. That is why everyone could think that Apple's economic results were going to be catastrophic, but the reality this quarter has been very different. In the months of July, August and September Apple entered 64,698 million dollars . This translates into a slight increase compared to the same quarter of the previous year where 64,040 million dollars were entered. We must bear in mind that this quarter was not influenced by a health crisis, so the improvement from one quarter to the next can be clearly seen, even though there are different health problems that in theory should fully affect the accounts. With regard to the total benefits, once all expenses have been removed, there has been a slight drop. Specifically, it has gone from having a net profit of 13,686 million dollars last quarter to 12,673 million dollars this quarter.

Q4 2020 (in billions of dollars)Q4 2019 (in billions of dollars)
Wearables, Home and Accessories7,8766,520
Total sales54,69864,040

If you enter to assess each of the products in terms of sales, you will find some surprises. The category of i Phone has suffered a fall In terms of income, since in Q4 2019, 33,362 million dollars were entered, while this Q4 2020, 26,444 million dollars were entered. This can be something totally expected since the sales of the new iPhone 12 will enter the Q1 2021 that starts from October. It will be here where it will be seen if these new Apple teams have performed well in terms of sales. But as far as anyone would think, even though iPhone revenue is down substantially it hasn't affected total revenue. This is because the rest of the categories have been compensating for this drop. This fact is important since Apple gradually ceases to depend on the iPhone, which is undoubtedly very good news.

Services is one of the categories that has increased the most and continues to do so progressively. Similar growth has seen the $2 billion Mac or iPad category. This certainly comes as a big surprise as the Mac category was steadily declining in the market while the iPad was on the rise. But now this trend has changed as it has ended up resurfacing.

Europe continues to lead economic growth

In the quarterly results, Apple gives information about the income by country. Specifically, Europe continues to grow, leading the rest of the countries with an increase in revenue of 2 billion dollars. It is true that Europe has suffered different confinements and the closure of the Apple Store in general, so online sales may have been responsible for the fact that income has remained this way.

Q4 2020 (in billions of dollars)Q4 2019 (in billions of dollars)
Rest of Asia Pacific4,1313,656

China is the only country where revenues have decreased by more than 3 billion dollars. It is here where much more money has been invested to boost sales, but this time it seems that it has not finished working. The inhabitants of China may have been waiting to be able to make a renewal now in October with the new iPhones, and the iPhone 12 mini may be one of the best-selling devices in this country right now. In order to see the impact it will finally have, we will have to wait for Q1 2021.


Statements by Tim Cook

Along with the presentation of results through a press release, the Apple CEO participates in a small podcast to give his own assessment. In general, he has shown himself to be very satisfied with these results, saying the following:

Apple capped off a fiscal year defined by innovation in the face of adversity with a record September quarter, led by all-time records for Mac and Services. Despite the continuing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period to date, and early response to all of our new products, led by our first line of iPhones with 5G connectivity, It has been tremendously positive. From remote education 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 kind of big ideas. that only Apple can offer.

In addition, he also made it clear that there are still some products to present this year. This may be a clear nod to the launch of new Macs in a hypothetical event on November 17. What has attracted a lot of attention this quarter is that they have not given forecasts for next year. This is due to the instability that is currently looming, not daring to make any approximate calculations.