iPhone maker Apple just released its quarterly earnings report with a $85.8 billion revenue record.
The figures were up only 5% YoY, mostly due to a huge drop in iPhone sales across China. However, the tech giant still managed to beat out expectations.
The company’s CEO mentioned in a new blog post today how the quarter was filled with innovative offerings including great updates done to software at the WWDC, out of which the unveiling of Apple Intelligence was the most sought-after initiative.
Apple promoted it as its personalized system of intelligence that puts major Generative AI models at the forefront including iPhone, iPad, and even Mac. In the same manner, they shared how such tools continue to be a part of the company’s current and future offerings designed to enrich others’ lives. This includes leading with value to drive work.
Still, the biggest and most profitable earnings for Apple remains the iPhone but it did highlight a slight decline in YoY revenue to hit the $39.3 billion mark. This was enough to include 45% of the company’s direct revenues.
While it failed to outline its iPhone directly, the sales for China fell a mega 6.5%. Its Mac on the other had given rise to $7 billion in revenues which again is up by 2.5% YoY. The latter is the most decent start for the innovative Macbook Air M3. Meanwhile, sales for iPads also soared by 23% to bring in $7 billion of revenue. This was a clear suggestion that the masses were adoring the latest iPad models.
The same cannot be claimed for Apple’s Accessories, Home products, and Wearables. That fell 2.2%, reaching a revenue of just $8 billion.
Apple’s CFO spoke about how the company’s installed base featuring active devices was on the rise in all of its geographics. This had to do with great customer loyalty and massive satisfaction. What is interesting is how no specific figure was given in this regard.
Meanwhile, all eyes were linked to the quarter after that. This is where the tech giant is all set to roll out the new iPhone and OS upgrades. With time, we’ll be hearing more about the company’s AI intelligence too. The latter is said to arise a few weeks after the rollout of iPhone 16 and its respective iOS 18 launch next month.
Image: DIW-Aigen
Read next: OpenAI’s Lobbying Budget Jumps to $800,000 Amid Growing AI Regulation Debate
The figures were up only 5% YoY, mostly due to a huge drop in iPhone sales across China. However, the tech giant still managed to beat out expectations.
The company’s CEO mentioned in a new blog post today how the quarter was filled with innovative offerings including great updates done to software at the WWDC, out of which the unveiling of Apple Intelligence was the most sought-after initiative.
Apple promoted it as its personalized system of intelligence that puts major Generative AI models at the forefront including iPhone, iPad, and even Mac. In the same manner, they shared how such tools continue to be a part of the company’s current and future offerings designed to enrich others’ lives. This includes leading with value to drive work.
Still, the biggest and most profitable earnings for Apple remains the iPhone but it did highlight a slight decline in YoY revenue to hit the $39.3 billion mark. This was enough to include 45% of the company’s direct revenues.
While it failed to outline its iPhone directly, the sales for China fell a mega 6.5%. Its Mac on the other had given rise to $7 billion in revenues which again is up by 2.5% YoY. The latter is the most decent start for the innovative Macbook Air M3. Meanwhile, sales for iPads also soared by 23% to bring in $7 billion of revenue. This was a clear suggestion that the masses were adoring the latest iPad models.
The same cannot be claimed for Apple’s Accessories, Home products, and Wearables. That fell 2.2%, reaching a revenue of just $8 billion.
Apple’s CFO spoke about how the company’s installed base featuring active devices was on the rise in all of its geographics. This had to do with great customer loyalty and massive satisfaction. What is interesting is how no specific figure was given in this regard.
Meanwhile, all eyes were linked to the quarter after that. This is where the tech giant is all set to roll out the new iPhone and OS upgrades. With time, we’ll be hearing more about the company’s AI intelligence too. The latter is said to arise a few weeks after the rollout of iPhone 16 and its respective iOS 18 launch next month.
Image: DIW-Aigen
Read next: OpenAI’s Lobbying Budget Jumps to $800,000 Amid Growing AI Regulation Debate
