Apple CFO Luca Maestri revealed the company’s Apple One subscription bundle will launch tomorrow (30 October), highlighting momentum in services as the company detailed fiscal Q4 2020 (covering 28 June to 26 September) results which were hampered by the delayed debut of its latest iPhones.
On an earnings call, Maestri noted Apple now has more than 585 million paid subscriptions across its family of services, up from 135 million in its fiscal Q4 2019.
Maestri insisted its iPhone performance was “very impressive” considering it didn’t ship any new models in its fiscal Q4 as in previous years. It expects an annual bump in sales in the current quarter versus its fiscal Q1 2020, with CEO Tim Cook stating the response to its recently unveiled 5G iPhone line was “tremendously positive”.
Cook said Apple believes it is entering the next-generation device market “at exactly the right time”.
Fiscal Q4 profit fell 7 per cent year-on-year to $12.6 billion, with revenue up 1 per cent to $64.7 billion on gains in every region except China, which plunged 28.6 per cent to $7.9 billion.
Sales of iPhone were the only sector of Apple’s business to decline, 20.7 per cent lower at $26.4 billion.
Mac revenue increased 29.1 per cent to $9.0 billion; iPad 45.9 per cent to $6.7 billion; Services 16.2 per cent to $14.5 billion; and Wearables, Home and Accessories 20.7 per cent to $7.87 billion.Subscribe to our daily newsletter Back