Daily reviews

31.07.2020

Apple earning exceeded expectations despite the pandemic

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International sales accounted for 60% of the quarter’s revenue

Stocks impacted: Apple (AAPL)

Apple revealed financial results for its fiscal 2020 third quarter. The giant posted quarterly revenue of $59.7 billion, an increase of 11% from the year-ago quarter, and quarterly earnings per diluted share of $2.58, up 18%. By the way, international sales accounted for 60% of the quarter’s revenue. The company also announced it plans to give investors three additional shares of Apple per share already owned at the end of August as part of a 4-1 stock split as the stock price is approaching $400 a share. As the report topped Wall Street expectations, the company’s stocks that officially finished 1,21% higher, rose as much as 6% in extended trading following the release.

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