Apple Reports 3Q 2020 Results: $11.25B Profit on $59.7B Revenue, 4-for-1 Stock Split Announced

[GigabitEthernet]

I'm still hoping for a dip tomorrow to buy. I missed it few days ago as money took few days to clear and now its out the buy zone.

Lets hope there will be an opportunity soon

Frankly I don't say this about many companies but with Apple there is basically no bad time to buy. You can try and buy in a dip but frankly I would buy and hold, I am almost certain you'll make money in the medium to long term.

 

[Crzyrio]

I'm still hoping for a dip tomorrow to buy. I missed it few days ago as money took few days to clear and now its out the buy zone.

Lets hope there will be an opportunity soon

If not yesterday the today.

Something really terrible would have to happen within apple for it's stock to stop appreciating.

 

[Solomani]

Apple today announced financial results for the third fiscal quarter of 2020, which corresponds to the second calendar quarter of the year.

For the quarter, Apple posted revenue of $59.7 billion and net quarterly profit of $11.25 billion, or $2.58 per diluted share, compared to revenue of $53.8 billion and net quarterly profit of $10.0 billion, or $2.18 per diluted share, in the year-ago quarter. Both revenue and earnings per share were June quarter records.

Gross margin for the quarter was 38.0 percent, compared to 37.6 percent in the year-ago quarter, with international sales accounting for 60 percent of revenue. Apple also declared a quarterly dividend payment of $0.82 per share, payable on August 13 to shareholders of record as of August 10.

Apple is also announcing a four-for-one stock split that will take effect for shareholders of record as of August 24, with split-adjusted trading to begin on August 31.

Apple's results were obviously significantly affected by the global health crisis, and the company did not issue financial guidance for the quarter in its previous earnings release on April 30, but results were generally ahead of Wall Street expectations.Apple is once again not issuing guidance for the current quarter ending in September, as considerable uncertainty surrounding the health situation's impact remains.

Apple will provide live streaming of its fiscal Q3 2020 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Conference call starts at 2:00 PM Pacific - No need to refresh

Visit article to see live updates



Article Link: Apple Reports 3Q 2020 Results: $11.25B Profit on $59.7B Revenue, 4-for-1 Stock Split Announced [Live Updates]

Stock split!!! Wooowooo, I just quadrupled my shares in AAPL. 💸

But my AAPL stock share #1 is still the best.... cause it's certificated. I bet 99% of current Apple investors don't even get a certificate any more.

 

[Michael Scrip]

iPhone revenue was only 44% of total? Is that the lowest it’s been in some time?

It's because Apple's other categories are growing.

That's how percentages work...

 

[nylonsteel]

bonus...4 to 1 stock split
though your shares are same value
it looks impressive on shares you hold
looks are everything

 

[Rogifan]

Cook just said Apple achieved doubling of services revenues 6 months ahead of schedule. Eddy Cue isn’t going anywhere anytime soon.

 

[rp2011]

Well, as to physical products, aside from iPhone, it’s good to see that iPad, iPad and wearables contributes 34% of the bottom line and services 22%. It speaks well for diversification and dependence on one single category.

 

[HowEver]

If only there was another way to buy Apple products and services that also don't require as much labour on the part of Apple..

How has revenue gone that much higher yoy when the stores were shuttered?

 

[WiseAJ]

I'll have 4x more AAPL shares to flex with. yay!

 

[Rogifan]

I think Luca said iPhone would be delayed a few weeks?

 

[OriginalAppleGuy]

Yea!!!!! One of the best purchases ever. Can't wait for the split. Last time that happened, they had a lot of great gains. And - I just may increase my portfolio again! Woop Woop!

 

[smulji]

Is it not time to just lump the iPod into the 'other' category ?????....or just stop reporting it altogether......or just cancel the product??? Is ticking off the 50 people that bought them last quarter really that big of a deal?? 😂

I say cancel it. At this point, it's just out of place
[automerge]1596144820[/automerge]

bonus...4 to 1 stock split
though your shares are same value
it looks impressive on shares you hold
looks are everything

Question is, what's the likelihood Apple's stocks rises high again, as in close to what it was pre-stock split?
[automerge]1596144855[/automerge]

I think Luca said iPhone would be delayed a few weeks?

Yes he did. That's code for October.

 

[Codeseven]

I didn't start buying until 2004. But has treated me to a nice early retirement. I'm still 100% AAPL in my portfolio (other than some 401k safe stuff). Love it.

Ya, almost the same for me. Bought just 100 shares on only a hunch after walking through something new, an Apple Store, back in 2005 and never have sold any (I couldn’t convince my friends and family to buy any). I couldn’t be happier in this COVID/sky is falling financial year.

 

[chrisbru]

How has revenue gone that much higher yoy when the stores were shuttered?

Online sales

 

[mdriftmeyer]

How has revenue gone that much higher yoy when the stores were shuttered?

Services

 

[fumi2014]

One word...WOW

Given the circumstances, this is the most amazing quarter from Apple, ever.

Absolutely insane company. Hope everyone listened to me over the years.

Apple is firing on all cylinders. Incredible numbers.

It’s simply ridiculous how well this company performs and what an amazing cash cow it is. Don’t think we’ve ever witnessed such a profitable and well run business that manages to do so well in such a competitive landscape.

Duh. It's a tech company. They've all prospered during the pandemic. Amazon, Facebook, Netflix, Google, Apple etc - they've made obscene profit while thousands of other companies have gone to the wall.

I don't like how people on here are spinning this as though Apple has done some incredible job here. They could run their company for years without almost any physical interaction with their customers.

 

[tomwhom]

Huge fanboy here that bought my first AAPL shares at age 17 or so in 1996

Question is are you still keeping them?

 

[Baymowe335]

Haha, yeah OK...Analysts expected $52B and they did almost $59B.

Apple is doing an INCREDIBLE job and it starts with Tim Cook.

You don’t understand how insane and hard this is if you aren’t applauding the job.

 

[TrevorR90]

Wow, I didn't realize that iPhones accounted for almost half of all sales. And lol at the iPod sales, I totally forgot about the iPod...

 

[Baymowe335]

...

Haha, yeah OK...Analysts expected $52B and they did almost $59B.

Apple is doing an INCREDIBLE job and it starts with Tim Cook.

You don’t understand how insane and hard this is if you aren’t applauding the job.

 

[fumi2014]

Haha, yeah OK...Analysts expected $52B and they did almost $59B.

Apple is doing an INCREDIBLE job and it starts with Tim Cook.

You don’t understand how insane and hard this is if you aren’t applauding the job.

They are all doing INCREDIBLE. They are internet based. The pandemic has aided these companies not thwarted them.
Can't you see that?

I'm amazed Apple didn't make even more profit. Netflix, Google, Amazon, Facebook - they've all prospered further and made obscene profits because they aren't industries that rely on physical contact.

Six months ago, hardly anyone had heard of Zoom.

 

[smulji]

Services

The Mac, iPad and Wearables also had solid growth

https://twitter.com/x/status/1288938741109673984

 

[DotCom2]

One word...WOW

Given the circumstances, this is the most amazing quarter from Apple, ever.

Absolutely insane company. Hope everyone listened to me over the years.

Well this wasn’t totally unexpected given the amount of people working at home and kids studying online, streaming to stay entertained etc. New equipment/service.

 

[Baymowe335]

They are all doing INCREDIBLE. The pandemic has aided these companies not thwarted them.
Can't you see that?

I'm amazed Apple didn't make even more profit. Netflix, Google, Amazon, Facebook - they've all prospered further because they aren't industries that rely on physical contact.

Yeah, ok...your analysis is just they should have made “more.” They did make more and it’s not easy. Still have to manage through all the supplier closures, store closures, people with less disposable income, etc.

Lots of people lost jobs and people are supposed to be saving. Apple I’m SURE would rather not be managing the company through this virus given an alternative.

Google posted a revenue decline, just FYI.

 

[DotCom2]

I have a small number (double digits) of shares. Am I a shareholder of record?

Yes. The amount doesn’t matter.