GPS News
INTERNET SPACE
Apple logs higher sales, quarterly profit beats forecast
Apple logs higher sales, quarterly profit beats forecast
by AFP Staff Writers
San Francisco (AFP) Aug 1, 2024

Apple's quarterly profit rose from a year ago, the company said Thursday, besting analyst forecasts and giving its shares a boost in after-hours trading.

The iPhone maker reported a $21.4 billion profit in the three months ending in June, on $85.8 billion in revenue over the period.

The revenue is a new record for the June quarter, and a five percent jump from a year ago, CEO Tim Cook said in a statement.

Cook added that the company looks forward to sharing new tools involving Apple Intelligence with users -- referring to its suite of AI features.

Apple has been under pressure to win over doubters on its artificial intelligence strategy after Microsoft and Google rolled out products in swift succession. The Cupertino-based company unveiled Apple Intelligence in June.

"For better or worse, Apple has married its AI efforts to other key parts of its core business, particularly the iPhone," said Emarketer analyst Jacob Bourne.

He added that the effectiveness of its AI investments will mainly be evaluated through device sales and potential growth in subscription revenue.

On Thursday, Apple reported iPhone revenue of $39.3 billion for the quarter, slightly below the same period a year ago.

It logged solid growth in the iPad segment, with $7.2 billion in revenue.

Apple added in a statement that it hit a new high in active devices across geographic segments, without giving specific figures.

The company's shares edged up 0.5 percent in after-hours trading.

bys/sst

Apple

Related Links
Satellite-based Internet technologies

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
INTERNET SPACE
US streaming rivals team up to catch Netflix
New York (AFP) July 19, 2024
US video streaming companies are joining forces to attract new viewers, boost ad sales, and finally turn a profit - something only Netflix has managed to accomplish so far. Be it Disney Plus, Hulu, and Max, or ESPN, Warner Brothers Discovery and Fox - the streaming world is reshaping into unlikely alliances. The sudden team spirit is all about the bottom line, with Netflix the only streamer that has managed to cover the exorbitant production costs of keeping users hooked. Netflix's great ... read more

INTERNET SPACE
SatVu and OPO team up to advance urban greening solutions

Tourism, heat cut Japan rice inventory to 21st century low

Drought in Sicily threatens grain fields, animal herds

No paving stone unturned in Dutch garden greening contest

INTERNET SPACE
New transistor's superlative properties could have broad electronics applications

Spin Qubits Show Promising Control in New Quantum Computing Research

POSTECH Advances AI with Innovative ECRAM-Based Analog Hardware

Purdue researchers trap atoms, forcing them to serve as photonic transistors

INTERNET SPACE
Climate activists block VIP entrance to Taylor Swift concert in Poland

Eight climate activists arrested at UK airport

Russian, Chinese bombers stage joint patrol near Alaska

Climate activists halt traffic at Frankfurt airport

INTERNET SPACE
Uber teams up with China's BYD for 100,000 EVs

Volkswagen profit dips on slowing Chinese demand

EV transition worries French car industry workers

BMW profits slip on weaker China sales

INTERNET SPACE
HSBC records $21.6 billion pre-tax profit in first half 2024

Tokyo plunges as equity markets track Wall St on recession fears

Equities mixed after Fed rate cut hope, strong yen hits Tokyo

Asian investors trade cautiously ahead of central bank decisions

INTERNET SPACE
US to help Amazon nations fight illicit finance, Yellen says

How Spaceborne Satellites Enhance Forest Monitoring

Tree Bark Found to Remove Methane from the Atmosphere

Sierra Leone rangers fight uphill battle against deforestation

INTERNET SPACE
Planet Labs Extends Data Provision Contract with Taylor Geospatial Institute to 2026

Two Environmental Protection Satellites Begin Operations in China

China's Climate and Carbon Monitoring Satellites Now Operational

Climate change causing UK temperature extremes: meteorologists

INTERNET SPACE
Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.