Apple today reported its earnings for FYQ2 2020, reporting total revenue of $58.3 billion and net income of $11.25 billion. The company’s revenue saw a small 1% increase year-over-year, but the growth is still substantial considering the current world situations, with Apple having to close many of its retail stores for weeks.

The main highlight of Apple’s Q2 2020 earnings report is its Services revenue. The company reported total revenue of $13.34 for its Services business, which reached an all-time high this quarter. Comparing that to Q2 2019, Apple’s Services generated a revenue of $11.4 billion, experiencing a 16.5% increase year-over-year.

Apple has seen a decline in revenue for its main businesses, though — the company’s products brought in total revenue of $44.9 billion. iPhone generated total revenue of $28.9 billion, down by 6.7% from the $31 billion a year ago. Mac also saw a slight 3% decline in revenue, bringing in $5.3 billion compared to the $5.5 billion a year ago. iPad is no different, either: it brought in $4.3 billion in revenue compared to the $4.8 billion a year ago, declining by 10.3%.

Apart from Services, Apple’s Wearables, Home and Accessories business also saw a rise in revenue. Apple reported revenue of $6.28 billion for Wearables, Home and Accessories,  which saw a massive 22.5% increase compared to the $5.1 billion a year ago. The growth is most likely driven by AirPods sales.

Tagged with Apple, Earnings