Press "Enter" to skip to content

Apple beats Covid Blues, June quarter revenue grows 11%

Cupertino: Beating the pandemic, Apple announced revenue of $59.7 billion for the third quarter of fiscal 2020 as of June 27, an increase of 11% from the same period last year. This is because iPhone sales surpassed Wall Street. Estimate.

Apple’s board of directors approved the four-share swap plan starting April 1.

International sales accounted for 60% of revenue for the quarter.

Apple CEO Tim Cook said: “Apple products and services have achieved double-digit growth, and growth in each of our regions contributed to Apple’s record June quarter.”

He said in a statement: “In uncertain times, this performance proves the important role our products play in the lives of customers and Apple’s unremitting innovation.”

iPhone sales were $26.4 billion, iPad revenue was $6.6 billion, and Mac revenue was $7.1 billion.

Apple’s revenue in the wearables, home and accessories sectors is $6.5 billion, while the service industry (app store, Apple Music, iCloud, etc.) has sales of $13.2 billion.

The strong performance caused Apple’s stock to rise by 6.3% in extended trading, making Apple’s share price exceed $400 for the first time.

Apple’s Chief Financial Officer Luca Maestri said: “Our June quarterly results fully demonstrate Apple’s ability to innovate and execute in challenging times.

“The record-breaking performance has brought our number of active equipment installations in all geographic regions and all major product categories to an all-time high.

We increased earnings per share by 18% during the quarter and generated $16.3 billion in operating cash flow, both of which set records for the June quarter. Maestri learned.

After leading the previous quarter, Apple did not provide guidance for the September quarter.


Comments are closed.