After closing the final quarter of its fiscal year, Apple can feel satisfied in Cupertino. The company announced its financial results for the July to September period, achieving a 6% year-over-year profit growth to $94.9 billion. Strong growth was recorded across all main product categories, including iPhone, Mac, iPad, and services. The only segment that saw a decline of 3% was wearable electronics.
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iPhone 16 Leading the Way
During a conference call, CEO Tim Cook reported that iPhone sales reached record highs in September, even though the new iPhone 16 models were only available in the last ten days of the quarter. In addition to the iPhone lineup, Cook highlighted other innovations like the Watch Series 10, AirPods 4, and new health-focused features such as sleep apnea detection and support for the hearing-impaired.
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Apple’s CFO Luca Maestri added that due to high customer satisfaction and loyalty, the number of actively used devices reached a new all-time high across all categories and regions. Maestri also stated that the record performance in the last quarter brought Apple nearly $27 billion in operating cash flow, allowing them to return over $29 billion to shareholders.
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