Apple has released information about the results of its operations in the third fiscal quarter.
The mentioned technology giant, which this summer officially announced the start of participation in the so-called artificial intelligence race, and with the presentation of the corresponding project improved its market position, which demonstrated a consistent deterioration over a long period, returned to revenue growth. At the same time, the company’s sales in China, one of the main markets, continue to remain low and signal the need to change the situation in a more positive direction.
The technology giant’s revenue for the third fiscal quarter, which ended on June 29, was fixed at $85.8 billion. This indicator increased by 5% compared to the result recorded in the same period last year. Analysts interviewed by the media predicted that the technology giant’s revenue for the third fiscal quarter would amount to $84.5 billion.
The company’s positive financial result is largely due to the debut of the new iPads. The technology giant has not significantly upgraded this line of its devices for a long period.
Also, a positive financial result can be a kind of incentive for the company and a signal of optimistic prospects for investors. The data for the last fiscal quarter will be a kind of favorable backdrop for the debut of the new iPhone, scheduled for September.
The technology giant expects a new suite of artificial intelligence features called Apple Intelligence to boost demand for its newest devices.
Earnings per share for the third fiscal quarter is $1.40. Analysts interviewed by the media predicted that this figure would be fixed at $1.35.
It’s worth noting that traditionally the third fiscal quarter is a kind of slowdown period. This feature is because many consumers stop their shopping activity while waiting for the autumn iPhone update.
The Chinese market, as above mentioned, continues to be a kind of vulnerability point for the technology giant. Apple’s sales in the Asian country in the third fiscal quarter in monetary terms amounted to $14.7 billion. This indicator fell by 6.5% year-on-year. In China, Apple is facing increased competition from local manufacturers and a semi-public ban on the use of iPhones in workplaces in state-owned agencies and companies backed by the government.
