The tech firm recorded net income of $11.25 billion or $2.58 per share during the three-month period, compared to $10.04 billion or $2.18 per share previous year. "Demand was strong around the world, with double-digit growth in each of our geographic segments, including a June quarter record in Greater China", said Maestri.More news: Halo Infinite multiplayer will be free-to-play according to new leak
Apple's earnings report comes one day after Cook testified alongside fellow Big Tech executives Jeff Bezos, Sundar Pichai, and Mark Zuckerberg as lawmakers continue to investigate potential antitrust violations and whether the massive companies now wield too much power. Similar to last quarter's performance, the App Store, Apple Music, Cloud Services, along with increased use of apps like iMessage, Siri, and FaceTime, helped contribute to the increase in revenue.
In a call following the release of Apple's Q3 earnings, the company's CFO Luca Maestri shared that compared to the September 2019 release of iPhone 11 models, Apple is expecting this year's supply of new iPhones "to be available a few weeks later". Apple has already revealed numerous new software features coming to iOS 14, iPadOS 14, macOS Big Sur, watchOS, and tvOS, with public betas now available for most of the updates.More news: Virus-hit Singapore Airlines suffers US$800 mln Q1 loss
During the quarter, Apple raked in $26 billion in revenue from smartphone sales, thanks in part to the iPhone SE.
It gained more number of consumers in Europe that has been a stronghold for the company in the past. Its input grew more than 18.9 per cent year-on-year in the third quarter of this year, contributing $14.17bn of total sales. The move will drop the price of a single share of the company's stock to around $100, before accounting for any changes in price between now and the effective date for the split.More news: Vietnam reports first virus death after months of successful countermeasures
Tim Cook, chief executive of Apple, testifies remotely through videoconference during a U.S. congressional hearing in Washington on Wednesday. Shares soared past US$400 for the first time yesterday, though they had been proportionally higher before a 7-for-1 split in 2014.