The fiscal third-quarter results announced last week covered an April-June period that's typically a sluggish stretch for Apple as its loyal customer bases awaits the next version of the iPhone that's traditionally unveiled shortly after Labor Day.
Even so, Apple boosted its sales from a year ago — a welcome reversal of fortune on the heels of five consecutive quarters of year-over-year revenue declines.
This time around, Apple’s revenue rose 5% from a year to $85.78 billion — a figure that exceeded analysts’ projections. The Cupertino, California, company earned $21.45 billion, or $1.40 per share, an 8% increase from the same time last year. The profit also topped analyst forecasts.
Apple’s shares swung between slight increases and modest declines after the announcement as investors assessed the results.
Sales of the iPhone — Apple’s marquee product — remained on a downward slope though, dipping 1% from last year to $39.3 billon. That decrease wasn’t as bad as the January-March period when iPhone sales plummeted 10% from last year, and now the product appears headed toward a major upswing.
This story is from the August 10, 2024 edition of Techlife News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 10, 2024 edition of Techlife News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
AI MAY NOT STEAL MANY JOBS AFTER ALL.IT MAY JUST MAKE WORKERS MORE EFFICIENT
Imagine a customer-service center that speaks your language, no matter what it is.
Music
ON THE BEAT WITH NEW FEATURES AND FRESH COMPETITION
CALIFORNIA LAWMAKERS APPROVE LEGISLATION TO BAN DEEPFAKES, PROTECT WORKERS AND REGULATE AI
California lawmakers approved a host of proposals this week aiming to regulate the artificial intelligence industry, combat deepfakes and protect workers from exploitation by the rapidly evolving technology.
YOU USE SPOTIFY TO LISTEN TO MUSIC.HERE'S HOW MONEY FROM ADS AND SUBSCRIPTION FEES FLOWS TO ARTISTS
Every day, millions of people use Spotify to stream music.
ROBOT WAITERS IN KENYA CREATE A BUZZ.BUT THERE ARE CONCERNS ABOUT WHAT IT MEANS FOR HUMAN LABOR
Children giggle as young people flash their smartphones to film robots carrying plates of freshly prepared meals on their inbuilt trays to deliver to diners in a busy eatery in Kenya's capital.
SPORTS BOATS SET OUT ON A VOYAGE TO ELECTRIFY THE WATERS IN THE SAME WAY TESLA ELECTRIFIED THE ROADS
Grant Jeide looked like another dude riding the rollicking waves left in the wake of a 23-foot (7-meter) boat ripping through the water at speeds of up to 40 miles per hour on a river in Northern California’s Delta earlier this summer.
HYUNDAI UNVEILS 2025 ELECTRIC SUVS AIMING FOR BROADER APPEAL WITH IMPROVED RANGE, CHARGING OPTIONS
Despite slowing U.S. electric vehicle sales, Hyundai this week rolled out the 2025 versions of its Ioniq 5 electric SUV with improved battery range and charging aimed at broadening the appeal of vehicles to be built at a massive new Georgia factory.
HOW DO YOU KNOW WHEN AI IS POWERFUL ENOUGH TO BE DANGEROUS? REGULATORS TRY TO DO THE MATH
How do you know if an artificial intelligence system is so powerful that it poses a security danger and shouldn't be unleashed without careful oversight?
EVEN DOLLAR STORE CHAINS ARE SEEING A PULLBACK IN SPENDING AS HIGHER PRICES SQUEEZE MORE CONSUMERS
Dollar Tree is slashing its full-year earnings and sales forecasts as its customers continue to struggle with higher prices and spend less.
ESPN NETWORKS, ABC AND DISNEY CHANNELS GO DARK ON DIRECTV ON A BUSY NIGHT FOR SPORTS 7
ESPN has gone off the air on a major carrier for the second straight year during the U.S. Open tennis tournament and in the midst of the first full weekend of college football.
