Apple Crushes Pandemic June Quarter with Record Revenues and Earnings Per Share

Apple virtually crushed the June quarter – the company’s fiscal third quarter – reporting record revenue and profits on Thursday. Apple reported quarterly revenue of $ 59.7 billion, up 11% year-over-year, with profit of $ 11.25 billion. This works out to earnings per share of $ 2.58, up 18% year-over-year. The company also increased its quarterly dividend to $ 0.82 per share and a 4-to-1 stock split for shareholders of record as of the close of business on August 24.

Apple shares closed the regular trading session on Thursday at $ 384.76, up $ 4.60 (+ 1.21%), on a significant volume of 38.8 million shares traded in the hands . In the after-hours market, AAPL added another 6.03%, to rise to $ 407.95 per share, up from $ 23.19.

“Apple’s record quarter in June was fueled by double-digit growth in products and services and growth in each of our geographic segments,” Apple CEO Tim Cook said in a statement. “In these uncertain times, this performance is a testament to the important role our products play in the lives of our customers and Apple’s relentless innovation. It’s a tough time 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 are living the principle. that what we do and do should create opportunity and leave the world a better place than we have found it.

“Our performance in the June quarter was strong proof of Apple’s ability to innovate and execute through tough times,” added Luca Maestri, Apple’s CFO. “Record-breaking business results have driven our installed base of active devices to an all-time high across all of our geographic segments and all major product categories. We increased EPS by 18% and generated operating cash flow of $ 16.3 billion in the quarter, a record for the June quarter for both measures. “

Apple declined to provide guidance for the September quarter. On the company’s conference call with analysts, the company cited the COVID-19 pandemic for the lack of guidance. Apple also had not offered any guidance for the June quarter.

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