Apple Broke These Records During the Massive Economic Downturn
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Apple announced its quarterly earnings this week, and the company is doing surprisingly well. Apple set several milestones and set a few new records in a tumultuous quarter where coronavirus began to rear its ugly head. Continue reading to learn seven ways Apple over-performed in the just ending financial quarter.
?App Store? Revenue Saw Double-digit Growth
Apps also are popular during this pandemic, with revenue from the App store reporting double-digit growth. Growth came from both in-app purchases and subscriptions.
Apple's Active Installed Base of Devices Hit All-time Highs
Apple's CFO Luca Maestri said during the earnings conference call that the company's "active installed base of devices reached an all-time high in all of our geographic segments and all major product categories." That means there are more iPhones, iPads, Macs, and Apple Watches in the wild than ever before.
AirPods, Apple Watch Set a New Quarterly Revenue Record
Apple confirmed that its wearables segment set a new record for revenue, earning a cool $6.3 billion in the quarter. This is up from $5.1 billion from the same quarter last year. Wearables include both the Apple Watch and AirPods. Unfortunately, Apple doesn't break down this category, so we don't know which product was the company's biggest seller.
Services Revenue Reaches All-time High
Apple's services category saw significant growth in the quarter setting a new all-time high. Services grew by 17 percent, with revenue jumping from $11.5 billion in Q2 2019 to $13.3 billion in the just ending quarter. This climb is not surprising with the coronavirus pandemic. More people are home or not working, which means they have more free time to watch movies, buy music, download apps, and play games. The company now has 515 million service subscribers and will likely surpass its goal of 600 million subscribers by December.
Apple News Reaches 125 Million Monthly Active Users
According to CEO Tim Cook, Apple News has reached a new milestone with 125 million monthly active users. Apparently, people are checking the news a lot during this time of uncertainty.
Third-party Subscriptions Reach an All-time High
People are downloading apps and signing up for subscriptions in droves. According to Apple's Q2 2020 results, subscriptions from third-party services increased 30 percent year-over-year and reached a new all-time high.
FaceTime and Messages Saw Daily Record Use
People are working from home and trying to stay connected during the coronavirus epidemic. As a result, the use of FaceTime and iMessage skyrocketed these past few months, setting new records for daily volume during the quarter.