Apple reports record sales and profits for fiscal 3Q20

Apple has announced its fiscal third quarter ended June 27, 2020 saw revenues and earnings hit records for the quarter, driven both by devices sales and services.

Apple posted quarterly revenue of U$59.7 billion for the June quarter, an increase of 11% from the year-ago quarter, and quarterly earnings per diluted share of US$2.58, up 18%.

International sales accounted for 60% of the quarter's revenue, said Apple.

"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, as cited in a company press statement. "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% and generated operating cash flow of US$16.3 billion during the quarter, a June quarter record for both metrics."

Apple's board of directors has declared a cash dividend of US$0.82 per share of the company's common stock.