• Home
  • Apple
  • News
  • Apple Reports Q2 2020 Financial Results: $11.2B Profit on $58.3B Revenue, Service Revenue Hits All-Time Record

Apple Reports Q2 2020 Financial Results: $11.2B Profit on $58.3B Revenue, Service Revenue Hits All-Time Record

Apple Reports Q2 2020 Financial Results: $11.2B Profit on $58.3B Revenue, Service Revenue Hits All-Time Record

Apple today announced financial results for its fiscal 2020 second quarter ended March 28, 2020.

The Company posted quarterly revenue of $58.3 billion, an increase of 1% from the year-ago quarter, and quarterly earnings per diluted share of $11.2 billion, or $2.55 per diluted share, up 4%. International sales accounted for 62% of the quarter’s revenue.

The gross margin for the quarter was 38.4%, compared to 37.6% in the year-ago quarter. International sales accounted for 62% of the quarter’s revenue. Services revenue reached a new all-time high of $13.3 Billion.

Apple declared an increased quarterly dividend payment of $0.82 per share, an increase of 6%, up from $0.77. The dividend is payable on May 14, 2020, to shareholders of record as of the close of business on May 11, 2020. The board of directors has also authorized an increase of $50 billion to the existing share repurchase program.

Apple had announced in mid-February that it would not meet its previously announced financial guidance of revenue between $63.0 billion and $67.0 billion for the March quarter, due to the impact of the COVID-19 coronavirus pandemic.

The outbreak affected both production and demand in China, and quickly spread around the world, resulting in Apple closing its retail stores and offices. The company experienced reduced demand for many of its products amid economic uncertainty.

“Despite COVID-19’s unprecedented global impact, we’re proud to report that Apple grew for the quarter, driven by an all-time record in Services and a quarterly record for Wearables,” said Tim Cook, Apple’s CEO. “In this difficult environment, our users are depending on Apple products in renewed ways to stay connected, informed, creative, and productive. We feel motivated and inspired to not only keep meeting these needs in innovative ways, but to continue giving back to support the global response, from the tens of millions of face masks and custom-built face shields we’ve sent to medical professionals around the world, to the millions we’ve donated to organizations like Global Citizen and America’s Food Fund.”

“We are proud of our Apple teams around the world and how resilient our business and financial performance has been during these challenging times,” said Luca Maestri, Apple’s CFO. “Our active installed base of devices reached an all-time high in all of our geographic segments and all major product categories. We also generated operating cash flow of $13.3 billion during the quarter, up $2.2 billion over a year ago. We are confident in our future and continue to make significant investments in all areas of our business to enrich our customers’ lives and support our long-term plans — including our five-year commitment to contribute $350 billion to the United States economy.”

Apple did not provide any guidance for the third quarter of fiscal 2020.

  1. 957116 668881Jeden Tag stellt man sich die Frage Was Koche Ich Heute?! Zerbrechen Sie sich nicht den Kopf, besuchen Sie uns am besten direkt auf unserer Webseite uns lassen Sie sich inspirieren 451996

  2. 571919 436704Extremely informative and wonderful complex body part of articles , now thats user pleasant (:. 651023

  3. sbo says:

    454728 88784Average In turn sends provides could be the frequent systems that provide the opportunity for ones how does a person pick-up biological, overdue drivers, what 1 mechanically increases the business. Search Engine Marketing 539986

Leave a Reply

Your email address will not be published.