Tech behemoth Apple, recently announced financial results for its fiscal 2020 second quarter ended March 28, 2020.
The vendor posted quarterly revenue of $58.3bn, an increase of 1% from the year-ago quarter, and quarterly earnings per diluted share of $2.55, up 4%. International sales accounted for 62% of the quarter’s revenue.
“Despite COVID-19’s unprecedented global impact, we’re proud to report that Apple grew for the quarter, driven by an all-time record in services and a quarterly record for wearables,” said Tim Cook, Apple’s CEO. “In this difficult environment, our users are depending on Apple products in renewed ways to stay connected, informed, creative, and productive.”
Cook said Apple feels motivated and inspired to not only keep meeting these needs in innovative ways, but to continue giving back to support the global response, from the tens of millions of face masks and custom-built face shields it has sent to medical professionals around the world, to the millions the company donated to organisations like Global Citizen and America’s Food Fund.
“We are proud of our Apple teams around the world and how resilient our business and financial performance has been during these challenging times,” added Luca Maestri, CFO,Apple. “Our active installed base of devices reached an all-time high in all of our geographic segments and all major product categories. We also generated operating cash flow of $13.3bn during the quarter, up $2.2bn over a year ago.”
Maestri explained that Apple is confident in its future and continues to make significant investments in all areas of its business to enrich customers’ lives and support long-term plans — including the five-year commitment to contribute $350bn to the United States economy.”
Apple’s board of directors has declared a cash dividend of $0.82 per share of the company’s common stock, an increase of 6 percent. The dividend is payable on May 14, 2020 to shareholders of record as of the close of business on May 11, 2020. The board of directors has also authorised an increase of $50bn to the existing share repurchase programme.