Apple has shared its financial results for the third quarter of fiscal year 2024, which ended on June 29. The company made $85.8 billion in revenue, which is a 5% increase from the same period last year and higher than the $84.5 billion analysts had expected.

During a call with investors, Apple CEO Tim Cook mentioned that the company set new revenue records in over 24 countries, including India. He highlighted strong performances in countries like Canada, Mexico, France, Germany, the UK, Indonesia, the Philippines, and Thailand.

For this quarter, Apple earned $1.40 per share, an 11% increase from last year. The company generated nearly $29 billion in operating cash flow and returned over $32 billion to shareholders. A cash dividend of $0.25 per share will be paid on August 15, 2024, to those who own shares as of August 12, 2024.

Apple’s CFO, Luca Maestri, noted a 2% increase in Mac revenue, driven by strong sales in emerging markets, including Latin America, India, and South Asia. This growth was largely due to the success of the new M3-powered MacBook Air.

Breaking down the revenue, iPhone sales were $39.30 billion, slightly down by 0.94% from last year. This decrease was expected because Apple usually sees lower iPhone sales before a new model is released. Mac sales rose by 2.46% to $7.01 billion, and iPad sales jumped by 23.63% to $7.16 billion, reversing a previous decline.

Sales of Apple Watch and AirPods fell, with wearables and accessories generating $8.10 billion, a 2.26% drop. However, revenue from Apple's Services, like iCloud and Apple Music, grew by 14.14% to $24.21 billion, reaching a new record.

Cook also shared his excitement about the potential of artificial intelligence (AI) to improve customer experiences and announced that Apple will be making significant investments in AI technology. This AI will be integrated into everyday apps to enhance user experiences in a natural and engaging way.