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Apple revenues grow 11% to $59.7 billion for Q3 2020

Apple revenues grow 11% to $59.7 billion for Q3 2020

Apple saw its quarterly revenues grow 11 per cent year-on-year to $59.7 billion in its Q3 FY20 for the three months ending 27th June 2020.

Profits for the quarter also grew to $11.3 billion, up 12 per cent year-on-year. This is in spite of increased cost of sales and operating expenses.

There were no breakout segments for the company, which instead saw sales increase year-on-year across the board. iPhones still account for the vast majority of sales, generating $26.4 billion in revenue for the quarter. The Americas also still represents the highest-grossing region at $27 billion in revenues.

The importance of being Apple

"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 Apple CEO Tim Cook.

"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."

Apple is currently under fire for its commission rates from subscriptions in apps on the App Store. This is despite a report, commissioned by Apple, which indicated that its strict App Store rules create a better experience for users.


Editor

Ric is the Editor of PocketGamer.biz, having started out as a Staff Writer on the site back in 2015. He received an honourable mention in both the MCV and Develop 30 Under 30 lists in 2016 and refuses to let anyone forget about it.

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