Apple reports third quarter results with 5 pct revenue growth

Apple posted quarterly earnings per diluted share of 1.40 dollars, up 11 percent year over year. Its net income for the quarter increased to 21.45 billion dollars from 19.88 billion dollars a year ago.

SAN FRANCISCO, Aug. 1 (Xinhua) -- Apple on Thursday announced financial results for its fiscal 2024 third quarter that ended on June 29, with quarterly revenue of 85.78 billion U.S. dollars, up 5 percent year over year.

The company posted quarterly earnings per diluted share of 1.40 dollars, up 11 percent year over year. Its net income for the quarter increased to 21.45 billion dollars from 19.88 billion dollars a year ago.

Sales of iPhone amounted to 39.30 billion dollars, slightly down from 39.67 billion dollars a year ago.

Its sales of Wearables, Home and Accessories products declined to 8.10 billion dollars from 8.28 billion dollars a year ago.

The company's services income was 24.21 billion dollars, up from 21.21 billion dollars the previous year.

Apple's net sales in the Greater China region decreased to 14.73 billion dollars from 15.76 billion dollars a year ago, according to its financial statement.

"During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence, a breakthrough personal intelligence system that puts powerful, private generative AI models at the core of iPhone, iPad, and Mac," said Tim Cook, Apple's CEO, adding that the company very much looks forward to sharing these tools with its users.

Luca Maestri, Apple's CFO, said that during the quarter, the company's record business performance generated EPS growth of 11 percent and nearly 29 billion dollars in operating cash flow, allowing it to return over 32 billion dollars to shareholders.

Apple's board of directors has declared a cash dividend of 0.25 dollars per share of the company's common stock. The dividend is payable on Aug. 15 to shareholders of record as of the close of business on Aug. 12, 2024. ■