APPLE

IPhone sales exceed expectations and company profits

Apple surpassed market expectations with a profit of $11.25 billion ($58 billion) in the second quarter of this year, an increase of 12% over the same period in 2019.
Revenue grew 11%, to US$59.7 billion, with an increase in sales of all the company's products. After the result, Apple's shares rose almost 6% in the after market - trades after the close of trading - on the Nasdaq Technology Exchange. The company is worth $1.6 trillion.
IPhone sales totaled $26.42 billion in the period, $4 billion above market expectations.
Service revenue, which includes iCloud, App Store and Apple Music, rose 14.8% to $13.2 billion. Users jumped to 550 million, from 515 million in the first quarter.
According to Tim Cook, Apple's president, after stores closed in April, sales began to increase in May and June, driven by what he called a "strong" launch of the $399 iPhone SE in the US in April. The model is the cheapest among those recently launched.
"I think the economic stimulus that was taking place, and I'm not just focused on the US, but more broadly, was a help," says Cook.
The American government injected trillions of dollars into the economy to curb the economic effects of the coronavirus pandemic. In the second quarter, the country's GDP (Gross Domestic Product) fell 32.9%, a historic record.
Among the emergency packages, there is an aid of US$1,200 for those who earn up to US $ 75 thousand per year. People with a salary between $75,000 and $99,000 a year have discounted $5 from the full amount of the benefit for every $100 above the ceiling.
Apple did not release estimates for the third quarter.

Mundophone