Apple posts record results thanks to iPhone and AirPods

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Another record quarter for Apple, thanks in no small part to the iPhone 11

Apple posts record results thanks to AirPods and iPhone
(Image credit: Apple)

Another quarter, another record. Apple has posted another round of huge numbers for its 2020 fiscal Q1, thanks to impressive growth in sales of products and services.

Apple posted quarterly revenue of $91.8 billion, which is up 9 per cent year-on-year, and an all-time record for the company. Tim Cook, Apple’s CEO, said the figures were "fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables". 

Services, which refers to the likes of Apple Music, Apple TV and iTunes, saw net sales of $12.7 billion, up nearly 17% year-on-year. The 'Wearables, Home and Accessories' division, which includes AirPods, AirPods Pro and Apple Watch, posted $10 billion of net sales, up almost 37% year-on-year. 

But it was iPhone, as ever, that drove the biggest numbers, bringing home just under $56 billion in net sales, up 7.6% year-on-year.

Apple's 2020 Q1 saw an overall net income of $22.2 billion, which was also a record. Nice work if you can get it. 

Of course, the Cupertino giant stops for no man, and the iPhone 12 is set to launch this September, with not one but four phones rumoured for release.

Joe Cox
Joe Cox
Content Director

Joe is the Content Director for What Hi-Fi? and Future’s Product Testing, having previously been the Global Editor-in-Chief of What Hi-Fi?. He has worked on What Hi-Fi? across the print magazine and website for almost 20 years, writing news, reviews and features on everything from turntables to TVs, headphones to hi-fi separates. He has covered product launch events across the world, from Apple to Technics, Sony and Samsung; reported from CES, the Bristol Show, and Munich High End for many years; and written for sites such as the BBC, Stuff, and the Guardian. In his spare time, he enjoys expanding his vinyl collection and cycling (not at the same time).