Apple reports record financials for June quarter, stock split

Apple on Thursday reported quarterly revenue of $59.7 billion, an increase of 11 percent from the year-ago quarter. International sales accounted for 60 percent of the quarter’s revenue, according to the company.

“Apple’s record June quarter was driven by double-digit growth in both Products and Services and growth in each of our geographic segments,” said Tim Cook, Apple’s CEO. “In uncertain times, this performance is a testament to the important role our products play in our customers’ lives and to Apple’s relentless innovation. This is a challenging moment for our communities, and, from Apple’s new $100 million Racial Equity and Justice Initiative to a new commitment to be carbon neutral by 2030, we’re living the principle that what we make and do should create opportunity and leave the world better than we found it.”

In the quarter Apple sold $26.4 million iPhones, up from the $25.9 million in the year ago quarter. Mac sales were up from $5.8 billion to $7 billion this quarter, and iPad sales were up to $6.5 billion from $5 billion in the year-ago quarter.

Wearables, Home, and Accessories were up from $5.5 billion to $6.4 billion in this quarter, while rose from $11.4 billion to $13.1 billion.

Apple made a huge announcement today regarding the company’s stock.

“The Board of Directors has also approved a four-for-one stock split to make the stock more accessible to a broader base of investors. Each Apple shareholder of record at the close of business on August 24, 2020 will receive three additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on August 31, 2020.”