All is well for Apple, which displays iron health despite the pandemic

Sylvie Claire / July 31, 2020

 

Apple largely thwarted market expectations by announcing Thursday an 11% year-on-year growth in revenues in the third quarter of its lagged fiscal year, to $ 59.7 billion, visibly little affected by the repercussions of the Covid-19 pandemic.

 

The company also announced a stock split to make the stock accessible to a wider range of investors while making it less expensive.

 

Apple gave the lie to analysts' predictions, who believed that the company’s activity would slow significantly due in part to the closure of stores with containment measures around the world. But it has posted impressive growth both for its product revenues (+ 10%) and for its services (+ 15%).

 

“In times of uncertainty, this performance is a testament to the important role our products play in the lives of our customers and Apple’s relentless innovation,” said Apple boss Tim Cook.

 

Sales of iPhones, Macs, iPads and various accessories (including AirPods wireless earbuds) all generated significantly higher sales compared to the same period last year. Net profit stood at $ 11.3 billion against just under $ 9 billion expected by analysts.

 

Reported by shares and adjusted for one-time items, it stood at $ 2.58 per share, well above the market's predicted $ 2.05.

      HTML Image as link                              PageFly    

Related Posts

Chinese hackers spied on Belgian high-tech company
Chinese hackers spied on Belgian high-tech company
Steph Deschamps / July 25, 2020   Two hackers on suspicion of running for the Chinese state are charged with large-s...
Read More
Space: Al-Amal, the first Arab space probe, is on its way to Mars
Space: Al-Amal, the first Arab space probe, is on its way to Mars
Sylvie Claire / July 21, 2020   The Emirati probe "Al-Amal" (Hope), the first Arab interplanetary mission, was launc...
Read More
Under pressure, Facebook hardens the tone and will ban more types of hate messages
Under pressure, Facebook hardens the tone and will ban more types of hate messages
Sylvie Claire / June 28, 2020   Facebook took a turning point on Friday on content moderation: it will toughen up...
Read More