Cheerful at Apple - Exceeded Expectations

The American technology giant Apple presented its quarterly report on Thursday, which exceeded market expectations.

» Published: August 01 2024

Cheerful at Apple - Exceeded Expectations
Photo: Alan Diaz/AP/TT

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The company's profit amounted to 1.40 dollars per share, which was higher than the expected 1.35 dollars, reports CNBC with reference to the analysis firm LSEG.

The turnover amounted to 85.78 billion dollars, which corresponds to approximately 921 billion kronor. Market analysts had expected a turnover of 84.53 billion dollars. On an annual basis, revenues increased by 5 percent.

The iPhone segment is the company's largest and generated 39.30 billion dollars during the quarter, well above analysts' expectations of 38.81 billion dollars. At the same time, Mac computers generated 7.01 billion dollars, while the company's services, including the App Store, generated 24.21 billion dollars.

The company has a broken financial year and the figures refer to the third quarter, which is normally a quarter characterized by slightly lower growth for Apple.

Several major companies in the technology sector have made large investments in artificial intelligence with associated server solutions over the past year. Apple has, according to CNBC, chosen to meet the demand for AI by using its own chips, which is considered a way to keep costs down.

Apple's share has, like several other American technology giants, performed well during the summer, with a historic high in mid-July. The share rose slightly in after-hours trading after the report was made public.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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