Apple Announces Third Quarter Earnings Results

The coronavirus pandemic has caused a change in balance not only in health but also in economic terms. The pandemic caused losses in many sectors, especially between February and May 2020; It has also strengthened the power of some companies such as Netflix and Zoom. Appleannounced today its results for the new quarter ending June 27, 2020. According to this report, which includes the company's quarterly revenue, Apple's revenue is lower than the same period last year. 11 percent increasing to $59.7 billion rose. 

As Apple's revenue increased, the company's shares also increased significantly. Shares of Apple, one of the companies that successfully survived the coronavirus pandemic 18 percent increase to $2.58 rose. At this point, it was stated that international sales constituted 60 percent of the quarter's revenue.

June quarter record was broken

Apple's CEO Tim Cook said, “Apple's June quarter record was double-digit growth across products, services and geographic segments. In uncertain times, the important role our products play in our customers' lives is a testament to Apple's innovation.” he said.

Referring to Apple's success in the last quarter, the company's CFO Luca Maestri said: $16.3 billion reported that cash flow was a June quarter record.

With this income, Apple's Board of Directors wants to make its shares accessible to a wider audience of investors. Approving a stock split for this, the board announced that as of August 24, 2020, each Apple shareholder will receive 3 additional shares for each share held.