Updates to the Home experience elevate entertainment and bring more convenience

tvOS 18 introduces new cinematic experiences with InSight, Enhance Dialogue, and subtitles

Apple® today announced software updates across its Home products that supercharge entertainment and deliver greater everyday convenience. With tvOS® 18, intelligent new features like InSight — and updates to Enhance Dialogue and subtitles — level up cinematic experiences, while new Apple Fitness+℠, Apple Music®, and FaceTime® capabilities get even better on users' biggest screen. The Home app gains new features with iOS 18, like guest access and hands-free unlock with home keys, delivering effortless and secure access to the home. tvOS 18 and iOS 18 are available as developer betas today, and will be available as free software updates this fall.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240610908437/en/

tvOS 18 introduces intelligent new features like InSight that level up cinematic experiences. Users can stream Palm Royale on the Apple TV app with a subscription. (Graphic: Business Wire)

"We design our Home products to elevate users' everyday lives, and our latest updates reinforce that goal by delivering even more convenience and connection," said Stan Ng, Apple's vice president of Apple Watch, Audio, Health, and Home Product Marketing. "This fall, tvOS 18 and our services take entertainment in the home to the next level by bringing timely information to fans about their favorite characters and scenes."

tvOS 18 Takes Home Entertainment to the Next Level

This fall, the Apple TV® app introduces InSight, a feature that displays timely information about actors, characters, and music from Apple TV+® movies and shows onscreen in real time. Users can simply select an actor to view their background and filmography page, or quickly view the song that is playing in a scene and add it to an Apple Music playlist. Viewers can also see InSight information on their iPhone® when using it as an Apple TV remote.

Enhance Dialogue gets smarter with tvOS 18, leveraging machine learning and computational audio to deliver greater vocal clarity over music, action, and background noise on Apple TV 4K. In addition to HomePod® speakers, users can now enjoy Enhance Dialogue when listening through built-in TV or HDMI-connected speakers, AirPods®, and other Bluetooth-connected devices, and when playing supported content on iPhone and iPad®.

Subtitles allow users to stay engaged with their favorite content. For even more convenience, subtitles now automatically appear at just the right moments with tvOS 18, including when the language in a show or film does not match the device language, when users mute, or when they skip back while watching something.

tvOS 18 also brings 21:9 support for playing movies and shows on projectors, and introduces stunning new screen savers like Portraits, TV and Movies, and even Snoopy, who takes over the screen with Woodstock in a delightful animation before coming to a rest in various locations, including his doghouse.

Apple Services and Experiences Get Even Better in the Home

This fall, anyone can share control of music playing from HomePod and HomePod mini® using SharePlay™ and Apple Music. To join a SharePlay session, users can simply bring an iPhone close to another iPhone — or scan the QR code in the Apple Music SharePlay window on another iPhone — to add songs to the playlist and control playback, even if they do not have an Apple Music subscription.

New updates to FaceTime with Continuity Camera come with tvOS 18, making it more accessible than ever. With the introduction of Live Captions for English in the U.S. and Canada, users can read what others are saying on a FaceTime call — all from the biggest screen in the home.

Apple Fitness+ has been redesigned in tvOS 18 to help users make the most of its robust library, stay motivated, and keep consistent with their fitness routine. Updates include a personalized For You space, Explore and Library spaces, search features, and enhanced awards.

Home Entry and Understanding Electricity Use Get Even More Convenient

With iOS 18, the Home app introduces guest access, providing users with convenient ways to grant guests control of locks, garage doors, and security systems; schedule individualized or time-based access to the home with smart locks; and view Activity History for guests. Additionally, hands-free unlock with home keys allows users to instantly open supported entry locks as soon as they are six feet away from their door, for an even more effortless home entry experience.

The Home app also makes it easier for users to access, understand, and make more informed decisions about their home electricity use in partnership with leading utilities, beginning with Pacific Gas & Electric Company in California. Eligible users can easily view their electricity usage in the Home app's Energy category when they connect their utility account.

Additional features coming to the Home app and Apple TV include:

Robot vacuum cleaners are now compatible with the Home app, so they can participate in automations and scenes, and can be activated by a user's voice using Siri®.
AirPlay® adds Spatial Audio so users can get an immersive audio experience, including support for Dolby Atmos, when using AirPlay to stream audio from iPhone and iPad to HomePod and compatible third-party audio equipment.

Availability

The tvOS 18, iOS 18, and HomePod software version 18 developer betas are available for Apple Developer Program members at developer.apple.com starting today, and public betas will be available to users next month at beta.apple.com . New software features will be available as free updates beginning this fall. For more information, visit apple.com/tv-home and apple.com/ios/ios-18-preview . Features are subject to change. Some features may not be available in all regions, all languages, or on all devices, and compatible hardware and software may be required. For more information about availability, visit apple.com .

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, the Apple logo, iPad, HomePod mini, SharePlay, Siri, and AirPlay are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240610908437/en/

Emily Ewing
Apple
e_ewing@apple.com

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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

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