Apple Announces “Record September Quarter”

October 30, 2020 Off By Naveen Victor

Apple has announced its financial performance for its fiscal 2020 fourth quarter ending September 16, 2020. Unlike previous quarterly reports, this time Cupertino didn’t delve into the detail, instead chose to share that it posted a September quarter revenue record of $64.7 billion. The company also stated that it achieved a quarterly earnings per diluted share of $0.73.

Apparently, 59% of the total revenue earned was attributed to international sales. It’s the same story with previous quarters as well, as its overseas business continues to play a vital part in the company’s income. Apple also said that a record high demand for Macs and Apple Services, played a role in allowing it to achieve its record breaking quarter.

See September Quarterly Report

“Despite the ongoing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period ever, and the early response to all our new products, led by our first 5G-enabled iPhone lineup, has been tremendously positive,” said Tim Cook, Apple’s CEO.

Apple’s Board of Directors has declared a cash dividend of $0.205 per share of the Company’s common stock. This will see the company return nearly $22 billion to shareholders during this quarter. That said, it’s bottom line may have been affected by the delay in launching the new iPhone 12.

In the past, each September sees the release of a new iPhone. Apple has kept to this schedule religiously. But this year was different. Cupertino pushed the launch date of the iPhone 12 to October of this year. Many believe that the fallout from COVID-19 may have caused disruptions to the company’s supply chain.

However, the introduction of the new iPad Air and range of sleek iPhones will definitely bolster the company’s sales as we head into the holiday season. As more people stay indoors to mitigate the spread of virus, they are forced to rely heavily on their smartphone and computers to get their work done.