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Apple Posts 11% increase in revenue in Q3 2020

31Jul By PriyankaNo Comments

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Apple Posts 11% increase in revenue in Q3 2020

CUPERTINO, Calif., 31st 2020-- Apple announced financial results for Q3 2020 and 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. 60 percent of the quarter’s revenue came from International sales. “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 neut...

Apple to miss Revenue forecast as iPhone supply hit by Coronavirus

Apple is to miss its revenue forecast for the March quarter due to the coronavirus epidemic, warning that iPhone supplies worldwide would also be impacted, underlining the economic cost of the health crisis. The COVID-19 virus death toll now exceeds 1,800 in China, where it has infected more than 72,000 after emerging in the central province of Hubei in December. The virus has sparked global economic jitters, travel bans and the cancellation of high-profile sporting and cultural events. "We are experiencing a slower return to normal conditions than we had anticipated," Apple said in a statement. "As a result, we do not expect to meet the revenue guidance we provided for the March quarter." Apple had forecast revenue of $63 billion to $67 billion for the second quarter to March....

Despite Fall in iPhone Sales, Apple Makes Biggest Ever Company Profit

The quarterly profit results for the most crucial quarter of Apple are out, and those are outstanding! Breaking its own record which was set 2 years ago, Apple posted a revenue of $88.3 billion and net quarterly profit of $20.1 billion. The results come after the launch of its $999 surprise phone- iPhoneX which was launched in November, along with the expected iPhone 8. “iPhone X surpassed our expectations and has been our top selling iPhone every week since it shipped in November,” Cook said. iPhone X introduced a new feature called Face ID which was its stand out feature along with amazing selfie camera. As per the release, Apple sold over 77.3 million iPhone and over 13 million iPad. It generated a total of $88.29 million revenue, thanks to the higher prices of its new handsets...