Apple CEO Tim Cook revealed that the offering will launch in August during the company's earnings call on Tuesday afternoon, saying that the card is wrapping up a testing phase with Apple employees.
Apple (AAPL - Get Report) stock was up 4% in after-hours trading after it posted earnings per share of $2.18 on sales of $53.8 billion, versus consensus estimates of $2.09 and sales of $53.3 billion. Its market cap was flirting with $1 trillion at its after-hours levels. Apple guided for September quarter revenue of $61 billion to $64 billion, above a $60.9 billion consensus.
Apple Card was announced in March 2019 during Apple's "It's Showtime" event, which unveiled a slew of new services offerings including Apple Arcade, Apple TV+, and Apple News+.
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