Delhi: Apple has reversed the recent decline in iPhone sales during its summer quarter, an early indication that its recent efforts to revive demand for its flagship product using artificial intelligence are working. Bringing colors. iPhone sales totaled $46.22 billion in the July-September period, up 6 percent from the same period last year, according to Apple's fiscal fourth-quarter report released Thursday. This improvement reversed two consecutive year-over-year declines in iPhone quarterly sales.
The surge in iPhone sales helped Apple deliver total quarterly revenue and profit that exceeded analysts' estimates, influencing investors, including a recent EU Court ruling that fined Apple $10.2 billion. Not included is the one-time charge that left the Cupertino, California-based company a hefty bill for back taxes. Apple earned $14.74 billion, or 97 cents per share, down 36 percent from the same period last year. Had it not been for the one-time tax shock, Apple said it would have earned $1.64 per share, above analysts' forecast of $1.60 per share, according to FactSet Research. Revenue rose 6 percent from a year earlier to $94.93 billion, about $400 million more than analysts' forecasts.
But investors were clearly expecting an even better quarter. Apple's share price fell 1 percent in extended trading after the numbers were released. The results mark the first few days when consumers were able to purchase a new iPhone 16 line-up that included four different models designed to handle different types of AI wizardry that the company refers to as Apple Intelligence. Is doing marketing. The branding is part of Apple's effort to differentiate its approach to AI from rivals like Samsung and Google, which took the lead in bringing the technology to smartphones.
Although the iPhone 16 was specifically designed with AI in mind, the technology didn't become available until Apple released a free software update earlier this week that added its first batch of tech tricks. , including features designed to make its virtual assistant Siri smarter, more versatile and more colorful. And these improvements are currently available only in the US.
Comments are closed.