Apple has just published its financial results for Q3 2020. The company posted revenue of $59.7 billion. Apple CEO Tim Cook said:
“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. “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. This is a challenging moment for our communities, and, from Apple’s new $100 million Racial Equity and Justice Initiative to a new commitment to be carbon neutral by 2030, we’re living the principle that what we make and do should create opportunity and leave the world better than we found it.”
Estimates and Expectations for Q3 2020 and the Year-Ago Quarter (Q3 2019)
Due to the uncertainty caused by the global pandemic, Apple did not provide financial guidance for Q3 2020 during its last earnings call.
Going into today’s call, Yahoo Finance said that:
Much of the earnings focus, however, will be on whether Cook and company will provide guidance for fiscal Q4, which could offer a hint about any potential delays to the launch of the firm’s upcoming iPhone 12.
Despite the lack of guidance, Yahoo Finance says that Bloomberg’s research shows that analysts expect the following results:
Revenue: $52.2 billion expected versus $53.8 billion in Q3 2019.
Earnings per share: $2.06 expected versus $2.18 in Q3 2019.
After the break, we’ve compiled a graphical visualization of Apple’s Q3 2020 financial results.