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Apple Inc. (AAPL) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 27, 2020

Apple Inc

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CIK: 320193 Ticker: AAPL

Exhibit 99.1


Apple Reports Third Quarter Results

Revenue up 11 percent and EPS up 18 percent to new June quarter records

CUPERTINO, California — July 30, 2020 — Apple
® today announced financial results for its fiscal 2020 third quarter ended June 27, 2020. The Company posted quarterly revenue of $59.7 billion, an increase of 11 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.58, up 18 percent. 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 Tim Cook, Apple’s CEO. “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. 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.”

“Our June quarter performance was strong evidence of Apple’s ability to innovate and execute during challenging times,” said Luca Maestri, Apple’s CFO. “The record business results drove our active installed base of devices to an all-time high in all of our geographic segments and all major product categories. We grew EPS by 18 percent and generated operating cash flow of $16.3 billion during the quarter, a June quarter record for both metrics.”

Apple’s Board of Directors has declared a cash dividend of $0.82 per share of the Company’s common stock. The dividend is payable on August 13, 2020 to shareholders of record as of the close of business on August 10, 2020.

The Board of Directors has also approved a four-for-one stock split to make the stock more accessible to a broader base of investors. Each Apple shareholder of record at the close of business on August 24, 2020 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, 2020.

Apple will provide live streaming of its Q3 2020 financial results conference call beginning at 2:00 p.m. PT on July 30, 2020 at apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.

Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.

The following information was filed by Apple Inc (AAPL) on Thursday, July 30, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Assess how Apple Inc's management team is paid from their Annual Proxy

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Apple Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
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  • Executive Team
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Inside Apple Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Shareholders' Equity (Unaudited)
Benefit Plans
Benefit Plans (Tables)
Benefit Plans - Additional Information (Details)
Benefit Plans - Restricted Stock Units Activity And Related Information (Details)
Benefit Plans - Summary Of Share-Based Compensation Expense And The Related Income Tax Benefit (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Changes In Accrued Warranties And Related Costs (Details)
Comprehensive Income
Comprehensive Income (Tables)
Comprehensive Income - Change In Aoci By Component (Details)
Comprehensive Income - Pre-Tax Amounts Reclassified From Aoci Into The Condensed Consolidated Statements Of Operations (Details)
Condensed Consolidated Financial Statement Details
Condensed Consolidated Financial Statement Details (Tables)
Condensed Consolidated Financial Statement Details - Other Income/(Expense), Net (Details)
Condensed Consolidated Financial Statement Details - Other Non-Current Liabilities (Details)
Condensed Consolidated Financial Statement Details - Property, Plant And Equipment, Net (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Summary Of Cash Flows Associated With Commercial Paper (Details)
Debt - Summary Of Term Debt (Details)
Derivative Instruments At Gross Fair Value (Details)
Derivative Instruments Designated As Fair Value Hedges And Related Hedged Items (Details)
Financial Instruments
Financial Instruments (Tables)
Financial Instruments - Additional Information (Details)
Financial Instruments - Cash, Cash Equivalents And Marketable Securities (Details)
Financial Instruments - Restricted Cash (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Lease Liability Maturities (Details)
Leases - Rou Assets And Lease Liabilities (Details)
Notional Amounts And Credit Risk Amounts Associated With Derivative Instruments (Details)
Pre-Tax Gains And Losses Of Derivative And Non-Derivative Instruments Designated As Cash Flow And Net Investment Hedges (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Deferred Revenue, Expected Timing Of Realization, Percentage (Details)
Revenue Recognition - Deferred Revenue, Expected Timing Of Realization, Period (Details)
Revenue Recognition - Net Sales Disaggregated By Significant Products And Services (Details)
Segment Information And Geographic Data
Segment Information And Geographic Data (Tables)
Segment Information And Geographic Data - Reconciliation Of Segment Operating Income To Condensed Consolidated Statements Of Operations (Details)
Segment Information And Geographic Data - Summary Information By Reportable Segment (Details)
Shareholders' Equity
Shareholders' Equity - Additional Information (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies - (Policies)
Summary Of Significant Accounting Policies - (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Computation Of Basic And Diluted Earnings Per Share (Details)

Material Contracts, Statements, Certifications & more

Apple Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Ticker: AAPL
CIK: 320193
Form Type: 10-Q Quarterly Report
Accession Number: 0000320193-20-000062
Submitted to the SEC: Thu Jul 30 2020 7:29:09 PM EST
Accepted by the SEC: Fri Jul 31 2020
Period: Saturday, June 27, 2020
Industry: Electronic Computers

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