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Apple Reports Q4 2020 Financial Results: $12.7B Profit on $64.7B Revenue

Apple Reports Q4 2020 Financial Results: $12.7B Profit on $64.7B Revenue

Apple today announced financial results for its fiscal 2020 fourth quarter ended September 26, 2020. The Company posted quarterly revenue of $64.7 billion and quarterly earnings per diluted share of $0.73, compared to revenue of $64.0 billion and net quarterly profit of $13.7 billion, or $0.76 per diluted share, in the year-ago quarter. International sales accounted for 59% of the quarter’s revenue.

Gross margin for the quarter was 38.2%, compared to 38.0% in the year-ago quarter. Apple also declared a quarterly dividend payment of $0.205 per share, payable on November 12 to shareholders of record as of November 9.

Apple generated $274.5 billion in sales with $57.4 billion in net income for the full fiscal year, compared to $260.2 billion in sales and $55.3 billion in net income for fiscal 2019.

“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. “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,” said 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 is once again not issuing guidance for the current quarter ending in December, due to the uncertainty surrounding the global COVID-19 pandemic.

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