Highlights

Apple Profits Slips But Revenue Grows Slightly Amid Pandemic

Apple said it made a profit of $11.2 billion on sales of $58.3 billion in the quarter, compared to net income of $11.7 billion on revenue of $58 billion in the same period a year earlier.

“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,” chief executive Tim Cook said in an earnings release.

Apple shares were down nearly two percent in after-hours trades that followed release of the earnings figures.

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