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7月 31, 2020
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Apple’s stock price has risen sharply after its earnings report. What are the highlights of its third-quarter earnings?

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Apple announced a strong third-quarter financial report on Thursday. After the announcement, Apple’s stock price rose more than 6% after the market. If the increase continues to the opening on Friday, it will be the highest in history, and it will be the first time in history to break through the $400 integer.

The financial report shows that Apple’s third-quarter net revenue was 59.685 billion US dollars, an increase of 11% year-on-year; the third-quarter net profit was 11.253 billion US dollars, an increase of 12%. These earnings indicators have exceeded Wall Street analysts’ previous expectations, and they have also driven Apple’s stock price to rise by more than 6% after the market.

From the perspective of the product line, although iPhone revenue is still the top of Apple’s revenue, its growth momentum is insufficient, and its year-on-year growth is only 2%; or affected by the epidemic, the demand for home office and learning has driven the strong rise of iPad and Mac: The revenue of iPad and Mac jumped from the negative year-on-year growth in the previous quarter to 32% and 22% this quarter, becoming the products with the largest increase in this quarter.

Apple CEO Cook said: “In this uncertain period, this performance proves the important role our products play in the lives of customers and also proves Apple’s unremitting spirit of innovation.”

Apple also said that in the third fiscal quarter, the number of paying users on the Apple platform reached 550 million, up from 515 million in the previous fiscal quarter.

By region, Apple’s third-quarter net revenue in the Americas was US$27.018 billion, compared to US$25.056 billion in the same period last year; the third-quarter net revenue in Greater China was US$9.33 billion, compared to US$9.157 billion in the same period last year; and the European division’s net revenue 14.173 billion U.S. dollars, compared with 11.925 billion U.S. dollars in the same period last year.

The company’s chief financial officer Luca Maestri said that the latest quarterly results fully demonstrated Apple’s ability to innovate and execute during the challenging period. Apple’s active device installations in all geographic regions and all major product categories hit a record high, with a total of 163 in the quarter. The operating cash flow of US$100 million also set a record in company history for the quarter ended in June.

It is worth mentioning that Luca Maestri also said that compared with previous years, this year’s new generation of iPhone will be delayed for several weeks. The next-generation iPhone is expected to become Apple’s first 5G mobile phone.

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