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Apple makes 1% revenue increase- second quarter report

Apple company has announced its financial results for its fiscal 2020 second quarter which ended March 28, 2020. The Company posted quarterly revenue of $58.3 billion, which means an increase of 1 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.55, up 4 percent.

The company reported that International sales accounted for 62 percent of the quarter’s revenue.

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APPLE

Apple’s CEO Tim Cook said: 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

It has been a tough time for many companies due to the pandemic but apple company still manages to be on the line. Apple company CEO said that the company has been in the frontline to fight the pandemic, the company has helped medical staffs with equipments and gadgets to help them in their duties.

“In this difficult environment, our users are depending on Apple products in renewed ways to stay connected, informed, creative, and productive. We feel 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 we’ve sent to medical professionals around the world, to the millions we’ve donated to organizations like Global Citizen and America’s Food Fund.”said Tim Cook, Apple’s CEO.

Apple shares

Apple company has declared a cash dividend of $0.82 per share of the Company’s common stock, that is an increase of 6 percent. The dividend will be payable on May 14, 2020 to shareholders of record as of the close of business on May 11, 2020. Other than that the board of directors has also authorized an increase of $50 billion to the existing share repurchase program.

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