Apple posted arecord June quarteron Thursday, eclipsing market estimates thanks to double-digit growth in both products and services. The company also saw growth in each of its geographic segments.
The Cupertino tech giant reported Q3 earnings of $2.58 a share, up 18 percent year-over-year, on revenues of $59.7 billion, an increase of 11 percent over the year prior.
Wall Street was expecting earnings of $2.04 per share on revenue of $52.25 billion.
"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," CEO Tim Cook said in a statement. "This is a challenging moment for our communities, and, from Apple's new $100 million Racial Equity and Justice Initiative to a new commitment to be carbon neutral by 2030, we're living the principle that what we make and do should create opportunity and leave the world better than we found it."
Apple also announced its board of directors declared a cash dividend of 82 cents per share of the company's common stock. Additionally, the board of directors approved a four-for-one stock split to make the stock more accessible to a broader base of investors. Each Apple shareholder at the close of business on August 24 will receive three additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on August 31.
Apple's active installed base of devices reached an all-time high in Q3, in all of its geographic segments and major product categories.
Revenue from iPhone sales totaled $26.4 billion, up from $25.98 billion in Q3 2019.
Mac sales totaled $7.08 billion, up from $5.82 billion a year prior.
Third quarter iPad sales came to $6.58 billion, up from $5.02 billion a year prior.
The Wearables, Home and Accessories segment brought in $6.45 billion, up from $5.53 billion a year prior.
Services revenue in Q3 came to $13.16 billion, up from $11.46 billion a year prior.
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