Home / World News / Apple Q3 earnings top Wall Street estimates amid Covid-19, shares rise 6%

Apple Q3 earnings top Wall Street estimates amid Covid-19, shares rise 6%

California-based company posted iPhone revenues of $26.42 billion, $4 billion above analyst expectations

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The company saw strong sales in its greater China region, where aggressive pricing during a June holiday shopping season and lower-priced iPhone SE model released in April helped boost sales 2% to $9.33 billion.

Stephen Nellis | Reuters

4 min read Last Updated : Jul 31 2020 | 9:23 AM IST

Apple Inc on Thursday delivered blowout quarterly results, reporting revenue gains across every category and in every geography as consumers working and learning from home during the Covid-19 pandemic turned to its products and services.

The report topped Wall Street expectations, with even long-overshadowed categories like iPads and Macs getting a boost. Shares rose as much as 6% in extended trading after the results.

The fiscal third-quarter results, which included iPhone sales some $4 billion above analyst expectations, came on the same day that U.S. gross domestic product collapsed at a 32.9% annualized rate last quarter, the nation's worst economic

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