Apple Q3 2020 Results - $59.7 Billion Revenue

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.

Graphical Visualization

After the break, we’ve compiled a graphical visualization of Apple’s Q3 2020 financial results.

Apple Q3 2020 on Twitter

Apple CFO confirms next iPhones coming a few weeks later than last year, which was late September

— Ina Fried (@inafried) July 30, 2020

iPhone sales were up in May and June thanks to iPhone SE and economic stimulus - this last factor could have made up somewhat for the delayed tax refunds as well which are still trickling in #AAPL #earnings

— Carolina Milanesi (@caro_milanesi) July 30, 2020

$AAPL posts blowout third quarter, announces 4-for-1 stock splithttps://t.co/A0Se2mlras

— Market Rebellion (@MarketRebels) July 30, 2020

Apple CEO Cook Says Pandemic Hurting iPhone More Than Macs, iPad https://t.co/kdMQaNIKb7 https://t.co/MgZUfAeiuL

— Mark Gurman (@markgurman) July 30, 2020

Apple reported an all-time Mac revenue record for FY3Q (April to June). $7.1 billion of revenue exceeds the previous record by nearly 20%. Remarkable.

— Neil Cybart (@neilcybart) July 30, 2020

https://twitter.com/mims/status/1288940219341955075?s=21

Sales were up from a year ago in each product category, with particular strength in Mac, and iPad sales and continued growth in services and wearables. pic.twitter.com/oScLWX9kHO

— Ina Fried (@inafried) July 30, 2020

https://twitter.com/benbajarin/status/1288939786518986752?s=21

Apple’s strong Mac and iPad revenue lines up with what we’re seeing on the PC side: surge in demand for remote working / education. It’s impossible to work fully on your phone all day so people are prioritizing devices they’ll use at home

— Tom Warren (@tomwarren) July 30, 2020

Apple Kicks U.S. Office Return Back to Early 2021, CEO Cook Says https://t.co/tNb6G968BT https://t.co/eKFnpnQIo1

— Mark Gurman (@markgurman) July 30, 2020

Tim Cook: “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.”

— Neil Cybart (@neilcybart) July 30, 2020