Apple has reported its financial results for the third quarter of the fiscal year 2024, ending on June 29. Total revenue reached $85.777 billion, marking a 5% increase compared to the same period last year. Net profit also rose to $21.448 billion.
Tim Cook, the CEO of Apple, stated that this revenue is a new record high for the company for the June quarter. During the past quarter, the company introduced new software at WWDC, including Apple Intelligence, an intelligent system with Generative AI that prioritizes user privacy.
Other notable operational figures include:
– iPhone sales decreased by 1% to $39.296 billion
– iPad sales, with new models released in May, increased by 24% to $7.162 billion
– Services business grew by 14% to $24.213 billion, a key factor driving overall revenue growth
– Sales in China declined by 6.5% to $14.728 billion
Source: Apple
TLDR: Apple’s Q3 2024 financial results show a 5% revenue increase, reaching $85.777 billion, with net profit rising to $21.448 billion. The company introduced new software, including Apple Intelligence, during the quarter. Notable figures include declining iPhone sales, increasing iPad sales, and growth in the Services business, despite a decrease in sales in China.
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