Apple today announced fiscal Q320 earnings for the period 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.
For the June quarter, analysts polled by FactSet expected Apple to post revenue of $52.12 billion and GAAP EPS of $2.04.
“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 a statement. “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, in a statement. “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.”
Net sales by category:
• iPhone: $26.418B (vs. $25.986B YOY)
• Mac: $7.079B (vs. $5.820B YOY)
• iPad: $6.582B (vs. $5.023B YOY)
• Wearables, Home and Accessories: $6.450B (vs. $5.525B YOY)
• Services: $13.156B (vs. $11.455B YOY)
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/.
MacDailyNews Take: Apple Q320 earnings: Fabulous results! (Amid COVID-19 shutdowns and with the Multiyear iPhone 5G Super Cycle looming, no less!)
AAPL at close: $384.76, +4.60 (+1.21%) @ 4:00PM EDT
AAPL after hours: $398.00, +13.24 (+3.44%) @ 4:30PM EDT
AAPL: $405.70, +20.94 (+5.44%) @ 4:36PM EDT
Holy cow. Great job considering the strong headwinds
Spread the love Apple! Give us some ports and compatibility.
BOOM 🤯🤯🤯
They are feeling confident. Cool stuff is on the way. 🙂
Yep, besides the record #’s, that’s the biggest positive take away with the split. Apple leadership is feeling it. Mr. Pipeline will be living up to the moniker and he knows it.
• Mac: $7.079B (vs. $5.820B YOY)
This
And with Apple Silicon it can get a little better.
And 5G iPhs being served up soon, which precedes the typically best qrt of the year. A pretty good set-up regardless, but at this time of funk!
ZuneTang!!!! Wheeeere Arrrrre Yoooou!? Hello ZuneTang? What say you now? IDIOT
Darn, I have been around reading MDN for so long that I know who ZuneTang was. Thanks for bringing fond memories…
I’m guessing that a lot of the current posters don’t even remember the lovely brown Zune. Understandably.
And us older posters all know who Zune Tang was.
The pic of “IT” positioned like a “load” in the toilet will forever be in my mind.
I actually miss ZuneTang…. sigh….
Good times….
Long since 2005 buy in or get left at the station….The fundamentals for Apple are the best in tech…
Apple has over $190B in cash, so I think if Apple wants to purchase some video content to compete with Netflix, I’m sure it can. A number of people keep saying how AppleTV+ content is rather thin. Apple could really get some filler content to at least put it on par with Amazon or Hulu.
https://www.cnbc.com/2020/07/30/apple-q3-cash-hoard-heres-how-much-apple-has-on-hand.html
I was totally blown away by Apple’s performance on the ER. I didn’t think it was possible and I would have been satisfied if it didn’t do great. Today, I got a pleasant surprise and Apple definitely exceeded my expectations by a mile. Apple’s quarter wasn’t as great as Qualcomm’s quarter, but I’ll take Apple over Qualcomm anytime.
Apple doesn’t need to beat the other streaming services, it just needs to build a library of exclusive quality content to value-add to its ecosystem (and bring in a little cash on the side!)
Just a bit more colorful info for Apple’s strong performance:
https://sixcolors.com/post/2020/07/apple-q3-2020-results-everything-up/
Amazing what having a proper MacPro and a MacBook Pro with enough ram will do to the bottom line.
More proof that if we just stuck to Apple related topics on this forum, we’d all get along swimmingly. Congratulations to all the believers who stuck with AAPL through all the “Android has won” clickbait and other nonsense!
Couple of questions about “artificial” factors:
Did working from home give tech companies an artificial sales boost?
Is the stock split to make the share price artificially more attractive? Or are there other reasons?