Reporting that the iPhone 11 Pro remains its best-selling model, Apple on Thursday revealed that overall iPhone revenue grew more than expected during its third quarter.
Reporting that the iPhone 11 Pro remains its best-selling model, Apple on Thursday revealed that overall iPhone revenue grew more than expected during its third quarter. As part of its Q3 2020 earnings call, Apple CFO Luca Maestri revealed that iPhone revenues had been better than the company expected, helped by the iPhone SE. While Apple had not publicly issued guidance, its internal estimates showed the iPhone sales being down on the previous year. « In April, we expected year over year performance to worse and, but we saw better than expected demand in May and June, » said Maestri. « We attribute this increase in demand to several interactive causes, including a strong iPhone SE launch, continued economic stimulus and potentially some benefit from shelter in place restrictions lifting around the world. » « [Our] iPhone revenue grew 2% to 26 point 4 billion, » continued Maestri, « with customer demand improving as the quarter progressed. COVID-19 was most impactful during the first three weeks of April, when lock downs and point of sale closures became more widespread in many countries.
