Apple Announces Third Quarter Financial Results | Financial Buzz

Apple Announces Third Quarter Financial Results

Apple, Inc. (NASDAQ: AAPL) reported financial results for its fiscal 2020 third quarter.  For the third quarter revenue amounted to USD 59.7 Billion, a 11% rise compared to the same period a year ago.  Quarterly earnings per diluted share reached USD 2.58, a 18% increase as international sales accounted for 60% of the third quarter 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.”

The board of directors have approved a four for one stock split to allow the stock to be more accessible to a broader base of investors.  The board also declared a cash dividend of USD 0.82 per share of the company’s common stock which will be payable on August 13th, 2020 to shareholders of record at the close on August 10th, 2020.