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Apple earnings: Apple surpassing Q3 expectations

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Apple’s earnings come just a day after CEO Tim Cook sat before the House Judiciary Committee’s Subcommittee on Antitrust, Commercial, and Administrative Law to answer accusations that the company abuses its market power to stifle competition in the Apple App Store.

Apple (AAPL) reported its Q3 2020 earnings on Thursday, expectations for the period.

These are the most important numbers from the report compared to what analysts were expecting as compiled by Bloomberg.

  • Revenue: $59.7 billion versus $52.3 billion expected
  • Earnings per share: $2.58 versus $2.07 expected
  • iPhone revenue: $26.42 billion.
  • Services revenue: $13.2 billion versus $13.1 billion expected
  • Accessories: $6.5 billion versus $6.1 billion expected

Apple’s quarter was far outpaced what analysts had expected of the company thanks to strong performance from its accessories and services arms. Both iPhone and Mac revenue were also up in the quarter.

With the company’s stock price approaching $400 a share, the firm announced a 4 to 1 stock split alongside its earnings report.

The next-generation iPhone is expected to be Apple’s first 5G-capable device and could lead to a so-called “super cycle,” during which the company would see a larger than normal uptick in iPhone sales.

The idea is that consumers who have held on to their devices for several years will jump at the chance to get a new iPhone with a new form of cellular connectivity that promises dramatically increased data.

Yahoo Finance’s The Market Wake-Up

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Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
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