Apple (AAPL) on Thursday reported its Q3 2020 earnings, which exceeded expectations for the period.
This is the most significant number compared to the report that analysts expected to be compiled by Bloomberg.
Revenue: $ 59.7 billion vs. $ 52.3 billion expected
earnings per share: $ 2.58 vs. $ 2.07 Expected
iPhone revenue: $ 26.42 billion.
Service Revenue: $ 13.2 billion vs. $ 13.1 billion expected
Accessories: $ 6.5 billion vs. $ 6.1 billion expected
Apple’s quarter was far ahead of what analysts expected the company to do thanks to strong performance from its goods and services weapons. Both iPhone and Mac revenue also grew in the quarter.
With the company’s share price approaching $ 400 per share, the firm announced a 4 to 1 stock split with its earnings report.
CEO Tim Cook Antistrust, sitting before the House Judicial Committee’s Subcommittee on Commercial and Administrative Law, a day after responding to the allegations, says the company abuses its market power to prevent competition in the Apple App Store.
However, the company’s Q3 report has not been much of a focus for analysts, as much of the conversation about Apple revolved around the tech giant’s upcoming launch of its iPhone 12. Apple’s first 5G for the next generation iPhone is expected to be -acceptable device and could lead to a so-called “super cycle”, during which the company will see larger than normal growth in iPhone sales.
The idea that consumers who have occupied their devices for years will give the new iPhone a chance with a new form of cellular connectivity, promising dramatically increased data.
But consumer personal consumption spending has dropped by 34.6% in Q2 due to the COVID-19 shutdown, and more than 50 million Americans have been forced out of the workforce, with investor year-over-year iPhone sales in the coming quarters Huge growth is expected in the card.
Apple’s stock rose more than 4% after the report.
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