Trends Report

Services Have A Record Quarter: Apple Reveals The Challenges And Benefits Of Responding To COVID-19 In Its Q2 2020 Earnings Call

May 22nd, 2020

Summary

Retail quarterly earnings calls for Q1 2020 (January through March) run from April through June. In this series, we share the highlights of earnings calls from the major brands to help digital business professionals understand the initial impact of COVID-19 on retail and brand businesses, particularly in the US. Apple saw an increase in customer demand for its services, including a 30% year-over-year increase for third-party subscriptions, plus strong growth for Apple Music, cloud, and Apple Care. Apple saw strong online sales in multiple regions, despite most of its stores remaining closed.

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