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China News Service, August 2. On August 1 local time, Apple announced its third-quarter revenue for fiscal year 2024 of US$85.78 billion, a year-on-year increase of 5%; net profit was US$21.45 billion, a year-on-year increase of 7.9%; quarterly diluted earnings per share were US$1.4, a year-on-year increase of 11%.

Apple CEO Tim Cook said the company announced "amazing updates" to its software platform at Worldwide Developers Conference this quarter, including a breakthrough personal intelligence system, Apple Intelligence, which puts powerful and private generative AI models at the heart of iPhone, iPad and Mac.

According to CNBC, Apple's most important business is still the iPhone, which accounts for about 46% of the company's total sales this quarter. Although it exceeded expectations, its sales still fell by about 1% year-on-year, with revenue of $39.29 billion.

In this regard, Cook believes that the mobile phone business has grown year-on-year at a fixed exchange rate, "which is how we look at it from an operational perspective."

Cook said that while Apple can't talk about the positive impact of its newly announced Apple Intelligence service on sales until it starts shipping to customers later this fall, he said the company has increased spending to get the service ready.

"We've moved a lot of people who were doing other things into AI," Cook said. "From a data center perspective, we have a hybrid approach, where we use both our own data centers and our partners' data centers. So that portion of the capital expenditure is recorded in the partner's financial statements, and we will pay for it."

Cook added: “Of course, weThis quarter's results also reflect year-over-year growth in our spending on AI and Apple Intelligence.。”

The report pointed out thatApple's iPad division had the strongest growth, with sales increasing nearly 24% year-over-year, reaching $7.16 billion. It released a new iPad this quarter for the first time since 2022, which triggered a wave of upgrades. Cook said about half of iPad buyers were first-time buyers, indicating that the tablet market is not yet saturated.

Services is Apple's most important growth category, which includes hardware warranties, Google revenue, monthly cloud storage subscriptions, and the company's content subscriptions, such as Apple TV+. The company reported services sales of $24.21 billion, up 14%.

The report mentioned that Apple said in a statement that it has more active devices in each region than ever before, but did not provide specific figures. Apple said in February that it had 2.2 billion active devices. The company said it has 1 billion paid subscriptions, including iPhone applications subscribed through Apple's App Store.

The report said that Apple is facing pressure in mainland China due to competitive products from local rivals such as Huawei. Apple's sales in Greater China fell 6% to US$14.72 billion. (China News Service APP)