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Apple results: 9 lessons in pandemic survival

Apple’s Q2 financial results weren’t quite the blood bath some had anticipated, and while the future remains uncertain there’s a few lessons there for enterprises attempting to navigate the current crisis.

What happened to Apple in Q2 FY20?

Apple revenues reached $58.3 billion. In other highlights, its installed base reached a record for active devices – above the 1.5 billion it revealed in 2019.

It saw double-digit growth and set new records in the installed base of iPhones, Macs, iPads and wearables, now has 515 million service subscribers and believes it’s on the way to 600 million by December.

As expected, product revenues fell 4% as economies contract in response to COVID-19. You can read Apple’s announcement of the results here, or dig a little deeper into the numbers.

So, what are the lessons?

1. Diversification is strength

Apple’s decision to grow its services segment paid off during the quarter, returning the highest-ever revenue, which helped defend the company against weakness in some of its markets.

Copyright © 2020 IDG Communications, Inc.

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