Skip to main content

Apple boasts of ‘growing the pie’ for developers amid App Store antitrust probe

 

Despite ongoing challenges presented by the global COVID-19 health pandemic, Apple reported a record third-quarter 2020, with an increase in revenue in both products and services. Amid grueling questions from Congress over antitrust issues and complaints from developers, Apple boasted how its App Store has contributed greatly to the economy.

Recommended Videos

“We do not have a zero-sum approach to prosperity, and especially in times like this, we’re focused on growing the pie, making sure our success isn’t just our success,” CEO Tim Cook said during the company’s earnings call. Cook boasted about a new Swift coding curricula, a professional learning course exclusive to educators, and adding more coding centers at 10 historically black colleges and universities.

Prior to Apple’s earnings report, analysts had speculated a potential decline in earnings, even calling the quarter a potential “throwaway” for Apple due to more limited consumer spending and recent store closures from the pandemic. Apple’s numbers prove otherwise, and the company posted an 11% increase in quarterly revenue from a year prior.

With $59.7 billion in revenue for the quarter, Apple CEO Cook boasted about the company’s agility to navigate the business during challenging times. Cook cited factors like a strong iPhone SE launch, continued economic stimulus, and the lifting of shelter-in-place restrictions in some areas for the record quarter.

apple
Image used with permission by copyright holder

“Apple’s record June quarter was driven by double-digit growth in both Products and Services and growth in each of our geographic segments,” said Cook. “In uncertain times, this performance is a testament to the important role our products play in our customers’ lives and to Apple’s relentless innovation.”

The company reported $46.7  billion of sales in hardware and $13.16 billion in services.

Apple did not yet break out how many units of each product were sold, but earnings across its hardware business — including iPhone, Mac, iPad, and wearables and other accessories were up.

In total across its hardware and services, Apple reported $59.69 billion, up from $53.81 billion from the same quarter a year ago. Apple’s expenditures into research and development, as well as its selling and general and administrative expenses also increased slightly from the same quarter a year ago.

Of note, despite rising trade tensions between the United States and China, Apple’s sales in the Greater China region remained steady, going from $9.16 billion a year ago to $9.33 billion in the most recent quarter that ended on June 27, 2020. In fact, Apple reported sales slightly up across all regions, including the Americas, Europe, Japan, and Asia Pacific.

Apple announced that it had doubled its fiscal 2016 services revenue six months ahead of schedule.

The company also used its earnings report to highlight other social causes and issues that are important to its principles, including a new $100 million Racial Equity and Justice Initiative and a commitment to be carbon neutral by 2030.

Apple will provide more details and insights during its ongoing investor call, and we will update this story as more is announced.

Chuong Nguyen
Silicon Valley-based technology reporter and Giants baseball fan who splits his time between Northern California and Southern…
Apple’s iPhone 16e is here, and it’s making me frustrated about the MacBook
A group of iPhone 16e phones arranged in a pattern.

The new iPhone 16e is here, and it’s the biggest revamp in the history of Apple’s affordable iPhone line. With Face ID security, an A18 chip and USB-C connectivity, it’s an overhaul that touches almost every part of the device.

Perhaps the most momentous change, though, is the introduction of a large, 6.1-inch OLED display. This is the first time the now-renamed iPhone SE has had an all-screen front face, and it’s also the first time it’s been infused with OLED technology.

Read more
A foldable MacBook could be less than two years away
Foldable Macbook concept image created by LunaDisplay.

Apple may be ready to enter the foldable space as early as 2026. A massive leak report has shared details of what the company might have in store for upcoming devices.

Well-known leaker, Jukanlosreve recently shared on X that Apple may have plans to introduce a foldable iPhone in 2026, and a foldable iPad/MacBook device the following year in 2027. The informant noted that Apple is focusing on larger designs for the foldable iPhone, more like the Galaxy Z Fold line, the One Plus Fold, or Google Pixel Fold line. There is not much development for smaller models, similar to how Samsung has its Galaxy Z Flip line. Notably, all of the information remains rumor-based and should not be taken as confirmation on any of Apple’s plans for upcoming devices.

Read more
iPhone 7 owners are getting $200 in class action lawsuit, and here’s how you can track yours
iPhone 7 and iPhone 7 Plus.

Settlement payout from the iPhone 7 class action lawsuit against Apple are starting to roll out. Those who participated in the class action lawsuit have started to receive payments, with amounts varying based on whether you spent any money on repairing the iPhone 7 or the iPhone 7 Plus.

Some of the co-applicants in the lawsuit have started to receive around $200 as part payment from the $35 million settlement, 9to5Mac reported. While the payout is less than the maximum of $350 initially approved by the court, it should still feel satisfactory to the appellants.

Read more