Accordingly, compared to the third quarter of 2023, Apple's revenue increased by 6% (from 89.5 billion USD to 94.9 billion USD) but profit decreased (from 23 billion USD to 14.7 billion USD).

The reason for the increase in revenue but decrease in profit is that Apple was affected by a one-time charge of $10.2 billion due to tax issues in the European Union. Without the one-time charge, the company's profit would have increased 12% compared to the same period last year.

Gross profit margin for the quarter was 46.2%, up from the same quarter last year (45.2%).

Apple CEO Tim Cook said: This quarter, Apple is excited to announce the best products: the all-new iPhone 16 lineup, Apple Watch Series 10, AirPods 4 with remarkable health features and sleep apnea detection. In addition, the company just released the first set of features for Apple Intelligence, setting a new standard for privacy in AI and strongly promoting the company's product line heading into the holiday season.

The 2024 fiscal year results show revenue of $391 billion and net income of $93.7 billion, compared to revenue of $383.3 billion and net income of $97 billion in fiscal year 2023.