Apple: Third Quarter Results for Revenue Growth

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Apple has announced its third quarter results, which ended on June 27. In this process, the company achieved 11 percent revenue growth compared to the previous year. In addition, revenue per share was 18 percent.

Coronavirus pandemic caused changes in balances not only in health but also economically. The pandemic, which caused many sectors to suffer, especially between February and May of 2020; Netflix has also strengthened the power of some companies such as Zoom. Apple announced the results of the new quarter, which ended today on June 27, 2020. According to this report, which includes the company’s 3-month revenue, Apple’s revenue rose 11 percent over the same period last year, to $ 59.7 billion.

With the rise of Apple’s revenue, the company’s shares also increased substantially. One of the companies that successfully passed the coronavirus pandemic process, Apple’s shares rose 18 percent to $ 2.58. At this point, it was stated that international sales constitute 60 percent of the quarter income.

June quarter record broke

Apple’s CEO Tim Cook said, “Apple’s June quarter record was realized as double digit growth in both products, services and geographic segments. In uncertain times, the important role that our products play in our customers’ lives is evidence of Apple’s innovation. ” said.

Touching Apple’s success in the last quarter, the company’s CFO Luca Maestri reported that their $ 16.3 billion cash flow in this quarter was a quarter-quarter record.

Apple Board of Directors wants to make stocks accessible to a wider investor group with this income. Approving a division of stock for this, the board announced that from 24 August 2020 each Apple shareholder would receive 3 additional shares for each held stock.

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