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Apple has now officially opened its books and announced the results for the second fiscal quarter (first calendar quarter). The books now show how hard the company was actually hit by COVID-19 - investors are breathing a sigh of relief.
At the last quarterly earnings conference, Apple forecast revenue of 63-67 billion US dollars for the second quarter. However, the company had to retract the forecast due to the COVID-19 pandemic. Now, however, the figures are giving us a sigh of relief. Cupertino exceeded expectations with an EPS (earnings per share) of 2.55 US dollars. Analysts were forecasting an average of 2.26 US dollars per share. This makes a total revenue of 58.3 billion US dollars. Profit amounts to 11.25 billion US dollars. In the course of this, the company boss explained Tim Cook:
Apple shares rise after hours
Despite the unprecedented global impact of COVID-19, we're proud that Apple delivered growth this quarter, fueled by an all-time record in services and a quarterly record in consumables. In this challenging environment, our users have once again turned to Apple products to stay connected, informed, creative, and productive. We're motivated and inspired to not only continue to meet those needs in innovative ways, but to also continue to give back to support the global response, from the tens of millions of face masks and custom face shields we've sent to healthcare professionals around the world to the millions we've donated to organizations like Global Citizen and America's Food Fund.
According to Apple, the share buyback program will be increased by another 50 billion US dollars. Apple also plans to increase the quarterly dividend from 77 cents to 82 cents. Analysts predicted around 80 cents. The share price rose by around 1.77 percent after the market closed. (Photo by Thanumporn / Bigstockphoto)
