Apple reports double-digit growth in third quarter

Business Friday 31/July/2020 12:46 PM
By: Times News Service
Apple reports double-digit growth in third quarter

San Francisco: Apple said on Thursday that financial results for its fiscal 2020 third quarter ended on June 27 with quarterly revenue of $59.7 billion, up by 11 per cent year on year, with quarterly earnings per diluted share of $2.58, up by 18 per cent.
"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.
International sales accounted for 62 per cent of the quarter's revenue in the quater, while Apple's net sales in the Great China region increased to $9.329 billion from $9.157 billion a year ago, according to Apple's financial statement.
Sales of iPhone amounted to $26.418 billion, up by 1.7 per cent from a year ago. The company's services revenue reached $13.156 billion, up by 14.8 per cent year on year.
"Our June quarter performance was strong evidence of Apple's ability to innovate and execute during challenging times," said Luca Maestri, Apple's CFO.
Apple's Board of Directors has also declared a cash dividend of $0.82 per share of the company's common stock. The dividend is payable on August 13 to shareholders of record as of the close of business on August 10.