Apple Q4 2020: $64.7 Billion in Revenue, All-Time High for Services and Mac

Apple has announced its Q4 2020 financial results, for the quarter ended September 26, 2020. The company saw $64.7 billion in revenue and earnings per share of $0.73, to go with international sales taking up 59% of Q4 revenue.

“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, in a statement. “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.”

“Our outstanding September quarter performance concludes a remarkable fiscal year, where we established new all-time records for revenue, earnings per share, and free cash flow, in spite of an extremely volatile and challenging macro environment,” added Luca Maestri, Apple’s CFO. “Our sales results and the unmatched loyalty of our customers drove our active installed base of devices to an all-time high in all of our major product categories. We also returned nearly $22 billion to shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.”

Apple saw net income of $12.6 billion for the quarter. Here’s a breakdown of revenue by products and services:

  • iPhone: $26.4 billion
  • Mac: $9.0 billion
  • iPad: $6.7 billion
  • Wearables, Home and Accessories: $7.8 billion
  • Services: $14.5 billion

It’s worth noting this quarter didn’t see any revenue from iPhone 12 and iPhone 12 Pro, which didn’t launch until October. iPhone 12 mini and iPhone 12 Pro Max are set to launch pre-orders next week. We’ll have to wait for Q1 2021 to see how Apple did with new iPhone sales.

Apple’s Board of Directors has declared a cash dividend of $0.205 per share of the Company’s common stock, payable on November 12, 2020 to shareholders of record as of the close of business on November 9, 2020.

…more to follow, refresh for updates