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Apple Announces 3Q 2020 Earnings: $59.7B Revenue & $11.25B Profit, More

Apple Announces 3Q 2020 Earnings 59.7B Revenue amp 11.25B Profit

Ioshackz.com Apple Announces 3Q 2020 Earnings: $59.7B Revenue & $11.25B Profit, More Apple has released earnings for its fiscal 2020 third quarter ended June 27, 2020. The company posted revenue of $59.7 billion, an increase of 11 percent from the year-ago quarter, along with a net quarterly profit of $11.25 billion, and quarterly earnings per diluted share of $2.58. In contrast, Apple reported revenue of $53.8 billion, a net quarterly profit of $10.0 billion, and earnings per diluted share of $2.18, in the year-ago quarter.

CEO Tim Cook in a statement said that the company’s record June quarter “was driven by double-digit growth in both Products and Services and growth in each of our geographic segments.” Apple also said that its active installed base of devices to an all-time high in all of our geographic segments and all major product categories. 
“Apple’s record June quarter was driven by double-digit growth in both Products and Services and growth in each of our geographic segments,” said Tim Cook, Apple’s CEO. “In uncertain times, this performance is a testament to the important role our products play in our customers’ lives and to Apple’s relentless innovation. This is a challenging moment for our communities, and, from Apple’s new $100 million Racial Equity and Justice Initiative to a new commitment to be carbon neutral by 2030, we’re living the principle that what we make and do should create opportunity and leave the world better than we found it.”

Similar to the previous quarter, Apple is not issuing any guidance for the fourth quarter of fiscal 2020.

Furthermore, Apple has declared a cash dividend of $0.82 per share of the Company’s common stock. The dividend is payable on August 13, 2020, to shareholders of record as of the close of business on August 10, 2020.

Last but not least, the Board of Directors has also approved a four-for-one stock split to make the stock more accessible to a broader base of investors. Each Apple shareholder of record at the close of business on August 24, 2020, will receive three additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on August 31, 2020.