Apple has now officially opened its books and announced the results for the third fiscal quarter (second calendar quarter). The books now show how hard the company was actually hit by COVID-19 - investors are cheering.
Apple did not announce a sales forecast at the last quarterly earnings conference because the company was unable to give a realistic estimate due to the ongoing COVID-19 crisis. Now, however, the figures are encouraging. Cupertino exceeded expectations with an EPS (earnings per share) of $2.58. Analysts on average forecast $2.04 per share. This represents total sales of $59.69 billion. explained Luca Maestri, CFO of Apple:
Apple announces stock split
Our June quarter performance was a strong testament to Apple's ability to innovate and execute in challenging times. Record business results drove our active installed base to all-time highs across all our geographic segments and all major product categories. We grew earnings per share 18 percent and generated $16.3 billion in operating cash flow in the quarter, a record for both metrics in the June quarter.
When the company published its quarterly figures, it announced a stock split. The shares are to be split at the end of August. Shareholders will receive four shares per share. The stock was able to gain over 5 percent after the market closed. (Photo by blueximages / Bigstockphoto)
