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Apple reported an increase in quarterly revenue and profit

Apple reported an increase in quarterly revenue and profit

The American company Apple recorded in the third quarter of the fiscal year 2020 revenue and profit growth, despite the pandemic of a new coronavirus. This is evidenced by the reports published on Thursday.

For the three months ended July 27, the company had revenue of $59.7 billion and a net income of $11.3 billion. Both indicators showed growth compared to the same period in the 2019 financial year. At that time, Apple's revenue was $53.8 billion, and its profit was $10 billion.

Analysts polled by FactSet employees believed that Apple would record revenue of $52.2 billion. The company did not provide forecasts for financial performance in the fourth quarter of the financial year.

The main part of Apple's revenue in the reporting period came from sales of iPhone smartphones, as well as from the company's services. Apple CEO Tim Cook said in an interview with Reuters that demand for the company's products fell slightly in April, but increased in May and June. According to the entrepreneur, this was facilitated by measures taken in different countries to stimulate the economy.

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