Apple beats Covid blues, revenue up 11% in June quarter

Cupertino: Beating the pandemic blues, Apple has posted $59.7 billion in revenue for its fiscal 2020 third quarter ended June 27, an increase of 11 per cent from the year-ago quarter, as iPhone sales beat the Wall Street estimates.

Apple's board of directors approves a four-for-one stock split, effective from August 31.

International sales accounted for 60 percent of the quarter's revenue.

"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," he said in a statement.

iPhone sales were $26.4 billion, iPad revenue was $6.6 billion while Mac revenue reached $7.1 billion.