Sales rose to $58.3bn (£46.2bn), up from $58bn within the same period in 2019 and beating expectations of $54.5bn.

Apple boosted by streaming services

Apple boss Tim Prepare stated the firm saw a “record for streaming” and “phenomenal” growth in the web based store.

He added that “China is headed within the right direction”.

Regardless of the coronavirus lockdown hurting iPhone supply because of Chinese factories closing, along with a stop by interest in devices in China – a significant marketplace for Apple – during Feb and March, Mr Prepare told investors within an earnings ask Thursday: “I do not think I’m able to remember one fourth where I have been prouder of Apple.”

Apple stated iPhone sales for that quarter fell 7.2% to $28.9bn, when compared with $31bn in the last year.

However, its wearables, home and accessories division – which creates the Apple Watch and AirPods – rose 22.5% to $6.3bn, while services – for example subscriptions to Apple Music and Apple TV – leaped 16.6% to $13.3bn like-for-like.

Although business in China hasn’t fully rebounded, Apple stated all its stores in the united states had reopened by mid-March and purchasers were improving.

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Internet earnings for that six several weeks ending 28 March 2020 rose 6.2% to $33.5bn, up from $25.9bn within the same period in 2019.

Mr Prepare stated Apple is at a powerful position which its logistics was “robust” and “back ready to go at full-throttle in the finish of March”.

“Basically we can’t say for several the number of chapters have been in this book, we can tell the ending is a great one,” he told investors.

Apple stated it wouldn’t be issuing forecasts for an additional quarter, because of the ongoing uncertainties from the lockdown, that has seen its sales move online in order to curb-side pick-ups.

Research firm eMarketer’s principal analyst Yoram Wurmser stated Apple’s performance was “pretty solid”.

“Development of 1% within this atmosphere is impressive, particularly given a few of the extent of Apple’s contact with the sooner lockdowns in Asia,” stated Mr Wurmser.

“The greatest vibrant place for Apple was services, which increased 17% year-over-year. As people spent additional time on their own phones while locked away in your own home, they clearly were spending more income within the Application Store as well as on a few of the subscription services provided by Apple, including Apple Music and Arcade.”

Based on Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, the increase in interest in wearables and services is definitely an encouraging one for Apple, given recent lacklustre iPhone sales growth.

“Despite lots of talk around services, Apple continues to be greatly a hardware business. As well as before coronavirus, conditions were not perfect,” she stated.

Ms Lund-Yates added that Apple’s decision to cost the brand new iPhone SE at half the price of a number of Apple’s newest models is a great way to convince people to upgrade throughout the lockdown.