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Drafting Economy and Bloomberg.
Although it did not reach its goal, the company recorded quarterly revenue of US $ 58.3 billion, an increase of 1% compared to the same period in 2019.
Cook attributed the slight rebound to new products, which include updated versions of the iPad Pro, iPhone SE, and MacBook Air.
Apple Inc. CEO Tim Cook said sales began to pick up in the second half of April, after a “very depressed” month, suggesting a turning point for the consumer electronics giant.
The company registered quarterly revenue of $ 58.3 billion, an increase of 1% from the prior year quarter, and quarterly earnings per diluted share of US $ 2.55, with an increase of 4%. International sales accounted for 62% of quarterly revenue, Apple reported.
However, Apple had forecast revenue of $ 63 billion to $ 67 billion for the second fiscal quarter, so it did not meet its goals.
Cook attributed the slight rebound to new products, which include updated versions of the iPad Pro, iPhone SE, and MacBook Air. He said people were also more willing to spend after adjusting to the new reality and with the help of the United States’ economic stimulus package.
Also read: Apple delays production of the new iPhone for a month due to coronavirus
“Despite the unprecedented global impact of COVID-19, we are proud to report that Apple grew during the quarter, driven by a historical record in services and a quarterly record of wearables“said Tim Cook, Apple’s CEO.
“We are proud of our Apple teams around the world and how resilient our business and financial performance has been during these difficult times,” added Luca Maestri, the company’s CFO.
According to Maestri, Apple generated an operating cash flow of $ 13.3 billion during the quarter, an increase of $ 2.2 billion from a year ago.
Apple’s board of directors has declared a cash dividend of $ 0.82 per share of the company’s common stock, registering a 6% increase. They claim that the dividend will be paid on the 14th to shareholders of record at the close of business on May 11, 2020.
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2020-05-02T11: 33: 06-05: 00
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Economy
Apple sales rebound after “very depressed” month
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