Apple reports third quarter results

Apple reports third quarter results

 

  June quarter records for Revenue and EPS  

 

  Services revenue reaches new all-time high  

 

 

 Apple® today announced financial results for its fiscal 2024 third quarter ended June 29, 2024. The Company posted quarterly revenue of $85.8 billion, up 5 percent year over year, and quarterly earnings per diluted share of $1.40, up 11 percent year over year.

 

"Today Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 percent from a year ago," said Tim Cook, Apple's CEO. "During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence, a breakthrough personal intelligence system that puts powerful, private generative AI models at the core of iPhone, iPad, and Mac. We very much look forward to sharing these tools with our users, and we continue to invest significantly in the innovations that will enrich our customers' lives, while leading with the values that drive our work."

 

"During the quarter, our record business performance generated EPS growth of 11 percent and nearly $29 billion in operating cash flow, allowing us to return over $32 billion to shareholders," said Luca Maestri, Apple's CFO. "We are also very pleased that our installed base of active devices reached a new all-time high in all geographic segments, thanks to very high levels of customer satisfaction and loyalty."

 

 Apple's board of directors has declared a cash dividend of $0.25 per share of the Company's common stock. The dividend is payable on August 15, 2024 to shareholders of record as of the close of business on August 12, 2024.

 

 Apple will provide live streaming of its Q3 2024 financial results conference call beginning at 2:00 p.m. PT on August 1, 2024 at apple.com/investor/earnings-call . The webcast will be available for replay for approximately two weeks thereafter.

 

 Apple periodically provides information for investors on its corporate website, apple.com , and its investor relations website, investor.apple.com . This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.

 

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about payment of the Company's quarterly dividend and future business plans. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, war, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. More information on these risks and other potential factors that could affect the Company's business, reputation, results of operations, financial condition, and stock price is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date they are made.

 

 Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple's six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple's more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

 

NOTE TO EDITORS: For additional information visit Apple Newsroom ( www.apple.com/newsroom ), or email Apple's Media Helpline at media.help@apple.com .

 

© 2024 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
 

  Apple Inc.  

 

  CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)  

 

(In millions, except number of shares, which are reflected in thousands, and per-share amounts)

 
 
 

 

 
 

  Three Months Ended  

 
 

 

 
 

  Nine Months Ended  

 
 

 

 
 

  June 29,  
2024  

 
 

 

 
 

  July 1,  
2023  

 
 

 

 
 

  June 29,  
2024  

 
 

 

 
 

  July 1,  
2023  

 
 

Net sales:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Products

 
 

$

 
 

61,564

 
 

 

 
 

$

 
 

60,584

 
 

 

 
 

 

 
 

$

 
 

224,908

 
 

 

 
 

$

 
 

230,901

 
 

 

 
 

Services

 
 

 

 
 

24,213

 
 

 

 
 

 

 
 

21,213

 
 

 

 
 

 

 
 

 

 
 

71,197

 
 

 

 
 

 

 
 

62,886

 
 

 

 
 

Total net sales (1)

 
 

 

 
 

85,777

 
 

 

 
 

 

 
 

81,797

 
 

 

 
 

 

 
 

 

 
 

296,105

 
 

 

 
 

 

 
 

293,787

 
 

 

 
 

Cost of sales:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Products

 
 

 

 
 

39,803

 
 

 

 
 

 

 
 

39,136

 
 

 

 
 

 

 
 

 

 
 

140,667

 
 

 

 
 

 

 
 

146,696

 
 

 

 
 

Services

 
 

 

 
 

6,296

 
 

 

 
 

 

 
 

6,248

 
 

 

 
 

 

 
 

 

 
 

18,634

 
 

 

 
 

 

 
 

18,370

 
 

 

 
 

Total cost of sales

 
 

 

 
 

46,099

 
 

 

 
 

 

 
 

45,384

 
 

 

 
 

 

 
 

 

 
 

159,301

 
 

 

 
 

 

 
 

165,066

 
 

 

 
 

Gross margin

 
 

 

 
 

39,678

 
 

 

 
 

 

 
 

36,413

 
 

 

 
 

 

 
 

 

 
 

136,804

 
 

 

 
 

 

 
 

128,721

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Operating expenses:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Research and development

 
 

 

 
 

8,006

 
 

 

 
 

 

 
 

7,442

 
 

 

 
 

 

 
 

 

 
 

23,605

 
 

 

 
 

 

 
 

22,608

 
 

 

 
 

Selling, general and administrative

 
 

 

 
 

6,320

 
 

 

 
 

 

 
 

5,973

 
 

 

 
 

 

 
 

 

 
 

19,574

 
 

 

 
 

 

 
 

18,781

 
 

 

 
 

Total operating expenses

 
 

 

 
 

14,326

 
 

 

 
 

 

 
 

13,415

 
 

 

 
 

 

 
 

 

 
 

43,179

 
 

 

 
 

 

 
 

41,389

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Operating income

 
 

 

 
 

25,352

 
 

 

 
 

 

 
 

22,998

 
 

 

 
 

 

 
 

 

 
 

93,625

 
 

 

 
 

 

 
 

87,332

 
 

 

 
 

Other income/(expense), net

 
 

 

 
 

142

 
 

 

 
 

 

 
 

(265

 
 

)

 
 

 

 
 

 

 
 

250

 
 

 

 
 

 

 
 

(594

 
 

)

 
 

Income before provision for income taxes

 
 

 

 
 

25,494

 
 

 

 
 

 

 
 

22,733

 
 

 

 
 

 

 
 

 

 
 

93,875

 
 

 

 
 

 

 
 

86,738

 
 

 

 
 

Provision for income taxes

 
 

 

 
 

4,046

 
 

 

 
 

 

 
 

2,852

 
 

 

 
 

 

 
 

 

 
 

14,875

 
 

 

 
 

 

 
 

12,699

 
 

 

 
 

Net income

 
 

$

 
 

21,448

 
 

 

 
 

$

 
 

19,881

 
 

 

 
 

 

 
 

$

 
 

79,000

 
 

 

 
 

$

 
 

74,039

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Earnings per share:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Basic

 
 

$

 
 

1.40

 
 

 

 
 

$

 
 

1.27

 
 

 

 
 

 

 
 

$

 
 

5.13

 
 

 

 
 

$

 
 

4.69

 
 

 

 
 

Diluted

 
 

$

 
 

1.40

 
 

 

 
 

$

 
 

1.26

 
 

 

 
 

 

 
 

$

 
 

5.11

 
 

 

 
 

$

 
 

4.67

 
 

 

 
 

Shares used in computing earnings per share:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Basic

 
 

 

 
 

15,287,521

 
 

 

 
 

 

 
 

15,697,614

 
 

 

 
 

 

 
 

 

 
 

15,401,047

 
 

 

 
 

 

 
 

15,792,497

 
 

 

 
 

Diluted

 
 

 

 
 

15,348,175

 
 

 

 
 

 

 
 

15,775,021

 
 

 

 
 

 

 
 

 

 
 

15,463,175

 
 

 

 
 

 

 
 

15,859,263

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  (1) Net sales by reportable segment:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Americas

 
 

$

 
 

37,678

 
 

 

 
 

$

 
 

35,383

 
 

 

 
 

 

 
 

$

 
 

125,381

 
 

 

 
 

$

 
 

122,445

 
 

 

 
 

Europe

 
 

 

 
 

21,884

 
 

 

 
 

 

 
 

20,205

 
 

 

 
 

 

 
 

 

 
 

76,404

 
 

 

 
 

 

 
 

71,831

 
 

 

 
 

Greater China

 
 

 

 
 

14,728

 
 

 

 
 

 

 
 

15,758

 
 

 

 
 

 

 
 

 

 
 

51,919

 
 

 

 
 

 

 
 

57,475

 
 

 

 
 

Japan

 
 

 

 
 

5,097

 
 

 

 
 

 

 
 

4,821

 
 

 

 
 

 

 
 

 

 
 

19,126

 
 

 

 
 

 

 
 

18,752

 
 

 

 
 

Rest of Asia Pacific

 
 

 

 
 

6,390

 
 

 

 
 

 

 
 

5,630

 
 

 

 
 

 

 
 

 

 
 

23,275

 
 

 

 
 

 

 
 

23,284

 
 

 

 
 

Total net sales

 
 

$

 
 

85,777

 
 

 

 
 

$

 
 

81,797

 
 

 

 
 

 

 
 

$

 
 

296,105

 
 

 

 
 

$

 
 

293,787

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  (1) Net sales by category:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

iPhone

 
 

$

 
 

39,296

 
 

 

 
 

$

 
 

39,669

 
 

 

 
 

 

 
 

$

 
 

154,961

 
 

 

 
 

$

 
 

156,778

 
 

 

 
 

Mac

 
 

 

 
 

7,009

 
 

 

 
 

 

 
 

6,840

 
 

 

 
 

 

 
 

 

 
 

22,240

 
 

 

 
 

 

 
 

21,743

 
 

 

 
 

iPad

 
 

 

 
 

7,162

 
 

 

 
 

 

 
 

5,791

 
 

 

 
 

 

 
 

 

 
 

19,744

 
 

 

 
 

 

 
 

21,857

 
 

 

 
 

Wearables, Home and Accessories

 
 

 

 
 

8,097

 
 

 

 
 

 

 
 

8,284

 
 

 

 
 

 

 
 

 

 
 

27,963

 
 

 

 
 

 

 
 

30,523

 
 

 

 
 

Services

 
 

 

 
 

24,213

 
 

 

 
 

 

 
 

21,213

 
 

 

 
 

 

 
 

 

 
 

71,197

 
 

 

 
 

 

 
 

62,886

 
 

 

 
 

Total net sales

 
 

$

 
 

85,777

 
 

 

 
 

$

 
 

81,797

 
 

 

 
 

 

 
 

$

 
 

296,105

 
 

 

 
 

$

 
 

293,787

 
 

 

 
 
                                                                                                                                                                                                                                                                               
 

  Apple Inc.  

 

  CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)  

 

(In millions, except number of shares, which are reflected in thousands, and par value)

 
 
 

 

 
 

  June 29,  
2024  

 
 

 

 
 

  September 30,  
2023  

 
 

  ASSETS:  

 
 

Current assets:

 
 

 

 
 

 

 
 

 

 
 

Cash and cash equivalents

 
 

$

 
 

25,565

 
 

 

 
 

 

 
 

$

 
 

29,965

 
 

 

 
 

Marketable securities

 
 

 

 
 

36,236

 
 

 

 
 

 

 
 

 

 
 

31,590

 
 

 

 
 

Accounts receivable, net

 
 

 

 
 

22,795

 
 

 

 
 

 

 
 

 

 
 

29,508

 
 

 

 
 

Vendor non-trade receivables

 
 

 

 
 

20,377

 
 

 

 
 

 

 
 

 

 
 

31,477

 
 

 

 
 

Inventories

 
 

 

 
 

6,165

 
 

 

 
 

 

 
 

 

 
 

6,331

 
 

 

 
 

Other current assets

 
 

 

 
 

14,297

 
 

 

 
 

 

 
 

 

 
 

14,695

 
 

 

 
 

Total current assets

 
 

 

 
 

125,435

 
 

 

 
 

 

 
 

 

 
 

143,566

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Non-current assets:

 
 

 

 
 

 

 
 

 

 
 

Marketable securities

 
 

 

 
 

91,240

 
 

 

 
 

 

 
 

 

 
 

100,544

 
 

 

 
 

Property, plant and equipment, net

 
 

 

 
 

44,502

 
 

 

 
 

 

 
 

 

 
 

43,715

 
 

 

 
 

Other non-current assets

 
 

 

 
 

70,435

 
 

 

 
 

 

 
 

 

 
 

64,758

 
 

 

 
 

Total non-current assets

 
 

 

 
 

206,177

 
 

 

 
 

 

 
 

 

 
 

209,017

 
 

 

 
 

Total assets

 
 

$

 
 

331,612

 
 

 

 
 

 

 
 

$

 
 

352,583

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  LIABILITIES AND SHAREHOLDERS' EQUITY:  

 
 

Current liabilities:

 
 

 

 
 

 

 
 

 

 
 

Accounts payable

 
 

$

 
 

47,574

 
 

 

 
 

 

 
 

$

 
 

62,611

 
 

 

 
 

Other current liabilities

 
 

 

 
 

60,889

 
 

 

 
 

 

 
 

 

 
 

58,829

 
 

 

 
 

Deferred revenue

 
 

 

 
 

8,053

 
 

 

 
 

 

 
 

 

 
 

8,061

 
 

 

 
 

Commercial paper

 
 

 

 
 

2,994

 
 

 

 
 

 

 
 

 

 
 

5,985

 
 

 

 
 

Term debt

 
 

 

 
 

12,114

 
 

 

 
 

 

 
 

 

 
 

9,822

 
 

 

 
 

Total current liabilities

 
 

 

 
 

131,624

 
 

 

 
 

 

 
 

 

 
 

145,308

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Non-current liabilities:

 
 

 

 
 

 

 
 

 

 
 

Term debt

 
 

 

 
 

86,196

 
 

 

 
 

 

 
 

 

 
 

95,281

 
 

 

 
 

Other non-current liabilities

 
 

 

 
 

47,084

 
 

 

 
 

 

 
 

 

 
 

49,848

 
 

 

 
 

Total non-current liabilities

 
 

 

 
 

133,280

 
 

 

 
 

 

 
 

 

 
 

145,129

 
 

 

 
 

Total liabilities

 
 

 

 
 

264,904

 
 

 

 
 

 

 
 

 

 
 

290,437

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Commitments and contingencies

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Shareholders' equity:

 
 

 

 
 

 

 
 

 

 
 

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively

 
 

 

 
 

79,850

 
 

 

 
 

 

 
 

 

 
 

73,812

 
 

 

 
 

Accumulated deficit

 
 

 

 
 

(4,726

 
 

)

 
 

 

 
 

 

 
 

(214

 
 

)

 
 

Accumulated other comprehensive loss

 
 

 

 
 

(8,416

 
 

)

 
 

 

 
 

 

 
 

(11,452

 
 

)

 
 

Total shareholders' equity

 
 

 

 
 

66,708

 
 

 

 
 

 

 
 

 

 
 

62,146

 
 

 

 
 

Total liabilities and shareholders' equity

 
 

$

 
 

331,612

 
 

 

 
 

 

 
 

$

 
 

352,583

 
 

 

 
 
                                                                                                                                                                                                                                                                                             
 

  Apple Inc.  

 

  CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)  

 

(In millions)

 
 
 

 

 
 

  Nine Months Ended  

 
 

 

 
 

  June 29,  
2024  

 
 

 

 
 

  July 1,  
2023  

 
 

Cash, cash equivalents and restricted cash, beginning balances

 
 

$

 
 

30,737

 
 

 

 
 

 

 
 

$

 
 

24,977

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Operating activities:

 
 

 

 
 

 

 
 

 

 
 

Net income

 
 

 

 
 

79,000

 
 

 

 
 

 

 
 

 

 
 

74,039

 
 

 

 
 

Adjustments to reconcile net income to cash generated by operating activities:

 
 

 

 
 

 

 
 

 

 
 

Depreciation and amortization

 
 

 

 
 

8,534

 
 

 

 
 

 

 
 

 

 
 

8,866

 
 

 

 
 

Share-based compensation expense

 
 

 

 
 

8,830

 
 

 

 
 

 

 
 

 

 
 

8,208

 
 

 

 
 

Other

 
 

 

 
 

(1,964

 
 

)

 
 

 

 
 

 

 
 

(1,651

 
 

)

 
 

Changes in operating assets and liabilities:

 
 

 

 
 

 

 
 

 

 
 

Accounts receivable, net

 
 

 

 
 

6,697

 
 

 

 
 

 

 
 

 

 
 

7,609

 
 

 

 
 

Vendor non-trade receivables

 
 

 

 
 

11,100

 
 

 

 
 

 

 
 

 

 
 

13,111

 
 

 

 
 

Inventories

 
 

 

 
 

41

 
 

 

 
 

 

 
 

 

 
 

(2,570

 
 

)

 
 

Other current and non-current assets

 
 

 

 
 

(5,626

 
 

)

 
 

 

 
 

 

 
 

(4,863

 
 

)

 
 

Accounts payable

 
 

 

 
 

(15,171

 
 

)

 
 

 

 
 

 

 
 

(16,790

 
 

)

 
 

Other current and non-current liabilities

 
 

 

 
 

2

 
 

 

 
 

 

 
 

 

 
 

2,986

 
 

 

 
 

Cash generated by operating activities

 
 

 

 
 

91,443

 
 

 

 
 

 

 
 

 

 
 

88,945

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Investing activities:

 
 

 

 
 

 

 
 

 

 
 

Purchases of marketable securities

 
 

 

 
 

(38,074

 
 

)

 
 

 

 
 

 

 
 

(20,956

 
 

)

 
 

Proceeds from maturities of marketable securities

 
 

 

 
 

39,838

 
 

 

 
 

 

 
 

 

 
 

27,857

 
 

 

 
 

Proceeds from sales of marketable securities

 
 

 

 
 

7,382

 
 

 

 
 

 

 
 

 

 
 

3,959

 
 

 

 
 

Payments for acquisition of property, plant and equipment

 
 

 

 
 

(6,539

 
 

)

 
 

 

 
 

 

 
 

(8,796

 
 

)

 
 

Other

 
 

 

 
 

(1,117

 
 

)

 
 

 

 
 

 

 
 

(753

 
 

)

 
 

Cash generated by investing activities

 
 

 

 
 

1,490

 
 

 

 
 

 

 
 

 

 
 

1,311

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Financing activities:

 
 

 

 
 

 

 
 

 

 
 

Payments for taxes related to net share settlement of equity awards

 
 

 

 
 

(5,163

 
 

)

 
 

 

 
 

 

 
 

(5,119

 
 

)

 
 

Payments for dividends and dividend equivalents

 
 

 

 
 

(11,430

 
 

)

 
 

 

 
 

 

 
 

(11,267

 
 

)

 
 

Repurchases of common stock

 
 

 

 
 

(69,866

 
 

)

 
 

 

 
 

 

 
 

(56,547

 
 

)

 
 

Proceeds from issuance of term debt, net

 
 

 

 
 

 
 

 

 
 

 

 
 

 

 
 

5,228

 
 

 

 
 

Repayments of term debt

 
 

 

 
 

(7,400

 
 

)

 
 

 

 
 

 

 
 

(11,151

 
 

)

 
 

Repayments of commercial paper, net

 
 

 

 
 

(2,985

 
 

)

 
 

 

 
 

 

 
 

(5,971

 
 

)

 
 

Other

 
 

 

 
 

(191

 
 

)

 
 

 

 
 

 

 
 

(508

 
 

)

 
 

Cash used in financing activities

 
 

 

 
 

(97,035

 
 

)

 
 

 

 
 

 

 
 

(85,335

 
 

)

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Increase/(Decrease) in cash, cash equivalents and restricted cash

 
 

 

 
 

(4,102

 
 

)

 
 

 

 
 

 

 
 

4,921

 
 

 

 
 

Cash, cash equivalents and restricted cash, ending balances

 
 

$

 
 

26,635

 
 

 

 
 

 

 
 

$

 
 

29,898

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Supplemental cash flow disclosure:

 
 

 

 
 

 

 
 

 

 
 

Cash paid for income taxes, net

 
 

$

 
 

19,230

 
 

 

 
 

 

 
 

$

 
 

7,020

 
 

 

 
 

 

 

  

  

  Press Contact:  
Josh Rosenstock
Apple 
jrosenstock@apple.com  
(408) 862-1142

 

  Investor Relations Contact:  
Suhasini Chandramouli
Apple 
suhasini@apple.com  
(408) 974-3123

 

News Provided by Business Wire via QuoteMedia

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Apple debuts iPhone 16 Pro and iPhone 16 Pro Max

Apple debuts iPhone 16 Pro and iPhone 16 Pro Max

 

  Powered by the A18 Pro chip and built for Apple Intelligence, the Pro lineup introduces larger display sizes, Camera Control, innovative pro camera features, and a huge leap in battery life  

 

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Apple announces Chief Financial Officer transition

Apple announces Chief Financial Officer transition

 

 Apple® today announced that Chief Financial Officer Luca Maestri will transition from his role on January 1, 2025. Maestri will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development, reporting to Apple CEO Tim Cook. As part of a planned succession, Kevan Parekh, Apple's Vice President of Financial Planning and Analysis, will become Chief Financial Officer and join the executive team.

 

"Luca has been an extraordinary partner in managing Apple for the long term. He has been instrumental in improving and driving the company's financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple. We're fortunate that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company," said Tim Cook, Apple's CEO.

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Apple scores record 72 Emmy Award nominations and sweeps across top categories including Outstanding Limited series for "Lessons in Chemistry," Outstanding Drama for "The Morning Show" and "Slow Horses" and Outstanding Comedy for "Palm Royale"

Apple scores record 72 Emmy Award nominations and sweeps across top categories including Outstanding Limited series for "Lessons in Chemistry," Outstanding Drama for "The Morning Show" and "Slow Horses" and Outstanding Comedy for "Palm Royale"

 

  With best-ever Emmy showing, Apple TV+ lands nominations across 16 Apple Originals including "Lessons in Chemistry," "The Morning Show," "Slow Horses," "Palm Royale," "Loot," "Hijack," "STEVE! (martin) a documentary in 2 pieces," "Girls State," "The Reluctant Traveler With Eugene Levy," "Masters of the Air," "Silo," "Physical," "Hannah Waddingham: Home for Christmas," "The New Look," "Sugar" and more  

 

  "The Morning Show" lands first-ever nomination for Best Drama and leads with the most performance nominations for a drama series, including Best Actress in a Drama for stars and executive producers Jennifer Aniston and Reese Witherspoon  

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Apple The Exchange TRX to welcome its first customers this Saturday, June 22, in Kuala Lumpur

Apple The Exchange TRX to welcome its first customers this Saturday, June 22, in Kuala Lumpur

 

  Apple's first retail location in Malaysia will offer its full lineup of products and services, unparalleled support from over 160 team members, and sessions with local creatives  

 

 Apple® today previewed Apple The Exchange TRX, the first Apple Store® in Malaysia. Located in the heart of Kuala Lumpur's new Tun Razak Exchange (TRX) central business district, the new store will deliver the magic of Apple in the country like never before. Customers can discover and buy Apple's innovative lineup of products and services, receive exceptional service from knowledgeable team members, and learn how to get the most out of their devices through free Today at Apple® sessions.

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Apple and Île-de-France Mobilités introduce Navigo card for iPhone and Apple Watch

Apple and Île-de-France Mobilités introduce Navigo card for iPhone and Apple Watch

 

  Customers can add a Navigo card to Apple Wallet and simply tap their iPhone or Apple Watch to ride the metro, train, bus, and more in the Paris region  

 

Apple® and Île-de-France Mobilités today introduced an easy, secure, and private way for customers to add a new Navigo card to Apple Wallet® and purchase passes to ride transit in the Paris region. Riders can buy passes from the Île-de-France Mobilités iOS app or directly from Apple Wallet, and use an iPhone® or Apple Watch® to tap and ride. Additionally, beginning this week, real-time transit information in Apple Maps is available in Paris to help users navigate their travels throughout the city.

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Syntheia Signs Definitive Agreement for Call Center Acquisition

Syntheia Signs Definitive Agreement for Call Center Acquisition

Syntheia Corp. (CSE - SYAI) ("Syntheia" or the "Company") (Syntheia.ai), a leading provider of conversational AI solutions for inbound telephone call management, is pleased to announce that further to its press release on May 16, 2025, it has entered into a definitive agreement dated July 5, 2025 (the "Definitive Agreement"), to acquire certain assets from Call Center Guys Inc. ("CCG Assets"), an arm's length party (the "Transaction"). The Assets consist primarily of employees, customers and intellectual property of CCG.

Acquisitions Terms:

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Syntheia Announces Closing of Private Placement

Syntheia Announces Closing of Private Placement

Syntheia Corp. (CSE: SYAI) (Syntheia.ai) (the "Company"), is pleased to announce that further to its press release dated May 29, 2025, it has closed its non-brokered private placement financing for gross proceeds of $411,000 through the issuance of 4,110,000 units (each, a "Unit") at a price of $0.10 per Unit (the "Offering").

Each Unit is comprised of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant is exercisable to acquire one Common Share at a price of $0.13 until June 17, 2027 (the "Expiry Date"), subject to an accelerated expiry in the event the volume weighted average trading price of the Common Shares exceeds $0.13 for 20 consecutive trading days, the Company may, within 10 business days of the occurrence of such event, deliver a notice to the holders of the Warrants accelerating their Expiry Date to a date that is not less than 30 days following the date of such notice and the issuance of a press release by the Company announcing the acceleration notice (the "Accelerated Exercise Period"). Any unexercised Warrants shall automatically expire at the end of the Accelerated Exercise Period.

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Syntheia Announces Private Placement

Syntheia Announces Private Placement

Syntheia Corp. (CSE: SYAI) (Syntheia.ai) (the "Company"), is pleased to announce that it intends to complete a non-brokered private placement financing for gross proceeds of up to $500,000 through the issuance of up to 5,000,000 units (each, a "Unit") at a price of $0.10 per Unit (the "Offering").

Each Unit will be comprised of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant is exercisable to acquire one Common Share at a price of $0.13 until the date that is two years from the closing of the Offering (the "Expiry Date"), subject to an accelerated expiry in the event the volume weighted average trading price of the Common Shares exceeds $0.13 for 20 consecutive trading days, the Company may, within 10 business days of the occurrence of such event, deliver a notice to the holders of the Warrants accelerating their Expiry Date to a date that is not less than 30 days following the date of such notice and the issuance of a press release by the Company announcing the acceleration notice (the "Accelerated Exercise Period"). Any unexercised Warrants shall automatically expire at the end of the Accelerated Exercise Period.

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Spearmint Proposes Share Consolidation

Spearmint Proposes Share Consolidation

Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") announces that it intends to complete a consolidation of its issued and outstanding common shares (the "Shares") on the basis of one new Share (a "Post-consolidated Share") for every ten currently outstanding Shares (the "Consolidation"). The Company also announces it intends to change its name and its trading symbol in connection with the proposed Consolidation.

Completion of the Consolidation, name change and symbol change are subject to approval by the Canadian Securities Exchange (the "CSE"). The effective date of the Consolidation, name change and symbol change will be announced in a subsequent news release.

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Syntheia Signs Non-Binding LOI for Call Center Acquisition

Syntheia Signs Non-Binding LOI for Call Center Acquisition

Syntheia Corp. (CSE :SYAI) ("Syntheia" or the "Company") (Syntheia.ai), a leading provider of conversational AI solutions for inbound telephone call management, is pleased to announce that it has entered into a non-binding letter of intent dated May 6, 2025 (the "LOI"), to acquire Beyond The Call Inc. ("BTC"), an arm's length party, and certain of its assets, a call Center in Ontario (the "Proposed Transaction").

Traditional call centers are inefficient legacy businesses with high staff turnover (~ 70%) that have challenges maintaining consistent service quality, maintaining high call volumes, increasing cost of labour along with shortage of qualified labour.

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Tech 5: Earnings Season Continues as Meta, Microsoft, Apple and Amazon Report

This week was packed with significant developments across the tech and finance sectors.

Mixed earnings reports from four of the Magnificent Seven revealed the impact tariffs could have on future operations, while Mastercard (NYSE:MA) and Visa (NYSE:V) announced new artificial intelligence (AI) payment initiatives.

Meanwhile, Google (NASDAQ:GOOGL) faced antitrust challenges in court as NVIDIA (NASDAQ:NVDA) navigated changing AI chip export regulations.

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