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Despite the corona crisis: Apple reports record quarter

Despite the corona crisis: Apple reports record quarter

Sales and profits grow in double digits. Both categories also significantly exceed analysts’ expectations. In after-hours trading, the price of Apple stock breaks the current 52-week high of $ 399.82.

Apple achieved double-digit growth in the third fiscal quarter of 2020 (through June 27) despite the COVID-19 pandemic. Revenue rose 11 percent to $ 59.7 billion, earnings rose 12 percent to $ 11.25 billion, or $ 2.58 a share. The iPhone maker is also exceeding the expectations of analysts who had predicted a profit of $ 2.04 per share on earnings of $ 52.25 billion.

Apple (Image: Apple)The price of Apple shares was boosted by good numbers in after-hours trading by 6.44 percent or $ 24.79 to $ 409.55. The paper had already closed yesterday’s trading day with a plus of 1.21 percent and thus approached the current 52-week high of $ 399.82.

The Cupertino company achieved growth in all regions and in all product areas. The iPhone division improved its earnings by 2 percent to $ 26.4 billion. Macs and iPads grew 22 and 31 percent, respectively, suggesting that Apple is also moving from home to work Office benefited.

Wearables, home and accessories put $ 6.45 billion in cash, 17 percent more than a year ago. The Services division also expanded its position as the second most important source of sales. Sales of $ 13.2 billion represent an increase of 15 percent.

In the home market of the USA the growth was 8 percent, in Europe even 19 percent. Sales in China, however, rose by 2 percent. Japan and the Asia Pacific region increased 22 and 17 percent, respectively.

“Apple’s record June quarter was driven by double-digit growth in both products and services and in each of our geographic segments,” said Apple CEO Tim Cook. “In uncertain times, this achievement is a testament to the important role that our products play in our customers’ lives and to Apple’s tireless innovation.”

Apple also announced that it would pay a dividend of $ 0.82 per share. The Board of Directors also approved a four-to-one share split: each Apple shareholder will receive three additional shares on August 24 for each share certificate. From August 31, trading should begin with the share price adjusted to the share split.

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