Thursday, July 30th 2020

Apple Reports Third Quarter Results

Apple today announced financial results for its fiscal 2020 third quarter ended June 27, 2020. The Company posted quarterly revenue of $59.7 billion, an increase of 11 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.58, up 18 percent. International sales accounted for 60 percent of the quarter's revenue.

"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."
"Our June quarter performance was strong evidence of Apple's ability to innovate and execute during challenging times," said Luca Maestri, Apple's CFO. "The record business results drove our active installed base of devices to an all-time high in all of our geographic segments and all major product categories. We grew EPS by 18 percent and generated operating cash flow of $16.3 billion during the quarter, a June quarter record for both metrics."

Apple's Board of Directors 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.

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.

Apple will provide live streaming of its Q3 2020 financial results conference call beginning at 2:00 p.m. PT on July 30, 2020 at apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.

Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.
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9 Comments on Apple Reports Third Quarter Results

#1
Fluffmeister
$100 million towards Racial Equity and Justice Initiative is chump change for the Umbrella Corporation ... sorry I mean Apple Inc.
Posted on Reply
#2
mechtech
Fluffmeister
$100 million towards Racial Equity and Justice Initiative is chump change for the Umbrella Corporation ... sorry I mean Apple Inc.
While I don't disagree that it's chump change for Apple, it's probably more than Walmart, Amazon, Exxon, Microsoft, Nvidia, Google, Oracle, etc. etc. donated on a % basis of income (maybe I'm wrong).

So cheers to Apple for making a donation.
Posted on Reply
#3
Ashtr1x
Ah Apple's classic Virtue Signalling, keep it up Tim Cook you are doing great for humanity.
Posted on Reply
#4
bonehead123
btarunr
Apple's new $100 million Racial Equity and Justice Initiative
Well, I don't know about anyone else, but all of these so-called initiatives make me wanna puke my guts out.... not that I am against the concepts/ideas in any way, but I am realistic enough to know that most of them are just playing upon the current social/political climate and mean very little, since 95% of the money and/or resources will be lost in endless red tape and/or excessively high overhead expenditures, and will NEVER, EVER reach the people who actually need it....

Just like the recent announcement that BOA has committed $100MM for this too, but only OVER the next 4 years, which REALLY means that after the 1st year or so, they are counting on things not being or appearing to be so bad. which will then give them justification to strategicaly and silently "reallocate" those funds to something moar meaningful, like moar executive bonuses or moar lear jets or moar bahamas vacations etc etc...

whattaloadofhorsesh*t.....
Posted on Reply
#5
medi01
Price/Earning of 30.
INTC is at 9.
NVDA at 80.
AMD at 180, lol.
Posted on Reply
#6
Fourstaff
iPhone SE2 was a massive hit for a lot of people. Made Android users jelly, so no surprises they are posting good results. I am not entirely convinced that they will be able to keep up the good results though.
Posted on Reply
#7
medi01
Fourstaff
Made Android users jelly
Huh? I doubt android users even know what "SE2" is supposed to mean, myself included.

UDPATE: after some googling, I guess they've finally rendered this irrelevant:

but then, I thought notch was good and cool.
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#8
Caring1
Fourstaff
iPhone SE2 was a massive hit for a lot of people. Made Android users jelly
Can it make Peanut Butter too? ;)
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#9
freeagent
SE2 is just a stripped down iPhone, with a stripped down experience when you compare it to newer models. It is zippy and snaps decent pics..
Posted on Reply