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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.

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