Apple FY20 Third Quarter results show no impact due to coronavirus pandemic

Apple just released its fiscal year 2020 third quarter financial results, and the company once again “knocked it out of the park” — even with a global pandemic taking place.

The company reported $59.7 billion in revenue (up 11%), split up between product lines with $26.4 billion from iPhone sales, $13.2 billion from services, $6.5 billion from “other products”, $6.6 billion from iPad, and $7.1 billion from Mac.

Apple is also announcing a 4 to 1 stock split, the first in six years and the fifth in the company’s history. Each Apple shareholder of record at the close of business on August 24, 2020 will receive three additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on August 31, 2020.

“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.”

“Our June quarter performance was strong evidence of Apple’s ability to innovate and execute during challenging times,” said Luca Maestri, Apple’s CFO. “The record business results drove our active installed base of devices to an all-time high in all of our geographic segments and all major product categories. We grew EPS by 18 percent and generated operating cash flow of $16.3 billion during the quarter, a June quarter record for both metrics.”

Apple’s Board of Directors has declared a cash dividend of $0.82 per share of the Company’s common stock. The dividend is payable on August 13, 2020 to shareholders of record as of the close of business on August 10, 2020.