Apple (AAPL) reported its third quarter 2020 earnings on Thursday, exceeding expectations for the period.
These are the most important numbers in the report compared to what analysts expected as compiled by Bloomberg.
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Income: $ 59.7 billion versus $ 52.3 billion expected
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Earnings per share: $ 2.58 versus $ 2.07 expected
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IPhone Income: $ 26.42 billion versus $ 30.9 billion expected.
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Service revenues: $ 13.2 billion versus $ 13.1 billion expected
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Accessories: $ 6.5 billion versus $ 6.1 billion expected
Apple’s quarter far exceeded what analysts expected from the company thanks to the strong performance of its accessories and services arms. IPhone and Mac revenue also increased in the quarter.
With the company’s stock price close to $ 400 a share, the company announced a 4-to-1 stock split along with its earnings report.
Apple’s earnings come just a day after CEO Tim Cook sat before the House of Representatives Judiciary Committee’s Antitrust, Commercial and Administrative Law Subcommittee to respond to allegations that the company abuses its market power. to stifle competition in the Apple App Store.
However, the company’s third-quarter report has not focused much on analysts, as much of the conversation about Apple has revolved around the upcoming launch of its iPhone 12 tech giant. Next generation is Apple’s first 5G. capable device and could lead to a so-called “supercycle”, during which the company would see a larger-than-normal increase in iPhone sales.
The idea is for consumers who have kept their devices for several years to seize the opportunity to get a new iPhone with a new form of cellular connectivity that promises a dramatic increase in data.
But with second-quarter consumer personal consumption spending falling a whopping 34.6% due to COVID-19 closings, and more than 50 million Americans outside of the workforce, investors are expecting a massive increase in iPhone sales year after year in the coming quarters. Not being in the cards.
Apple shares rose more than 4% after the report.
