People walk past an Apple store in Beijing on December 11, 2018. – Apple stores in China continued with business as usual on December 11, despite a Chinese court-ordered ban on iPhone sales that could hurt the US tech firm in one of its most crucial markets. (Photo by GREG BAKER / AFP)
Agence France-Presse
Zenith Bank BetaLife
Zenith Bank BetaLife
Zenith Bank BetaLife
Zenith Bank BetaLife

Technology giant Apple reported 58.3 billion dollars in revenue for its second fiscal quarter on Thursday, indicating a 1-per-cent increase in revenue compared with last year, thus beating wide-spread analyst projections.

“Despite COVID-19’s unprecedented global impact, we’re proud to report that Apple grew for the quarter, driven by an all-time record in Services and a quarterly record for Wearables,” Apple CEO Tim Cook said.

Purchases of Apple services, including application purchases, iCloud storage, Apple TV and Apple Music subscriptions, rose from 11.5 to 13.3 billion dollars, versus the same period last year.

Meanwhile revenue from so-called wearables, including Apple Watch and AirPods rose from 5.1 to 6.3 billion dollars.

The iPhone remains the company’s cash cow at 29 billion dollars in sales revenue, a nearly 2.1-billion-dollar decrease from the 2019 second fiscal quarter.

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