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Apple, Amazon Post Massive Quarterly Profit Jumps
(MENAFN) Apple and Amazon delivered explosive third-quarter earnings that shattered analyst expectations, showcasing the resilience of US tech giants amid economic uncertainty.
Apple posted $27.6 billion in net profits with a surge of 86%, while US-based e-commerce behemoth Amazon recorded $180.2 billion in net profits with a rise of 13%, according to the firms' respective financial results for July–September.
The Cupertino-based tech titan reported record-breaking revenues for the three-month period ending Sept. 27, which the company designates as its fiscal fourth quarter.
Apple's net sales climbed 8% on an annual basis to $102.5 billion, driven by robust demand across multiple product categories. iPhone sales rose 6% to $49 billion, while Mac sales surged 13% to $8.7 billion. iPad sales reached $6.9 billion during the quarter.
Amazon demonstrated equally impressive momentum, with net sales rising 13% year-over-year to $180.2 billion in what the e-commerce powerhouse defines as its third quarter.
The Amazon Web Services (AWS) cloud computing division proved particularly strong, with sales surging 20% to $33 billion as enterprises accelerated digital transformation initiatives. The company's earnings per share climbed from $1.43 to $1.95, reflecting improved operational efficiency.
Amazon said it expects net sales between $206 billion and $213 billion for the fourth quarter, led by strong momentum due to artificial intelligence (AI) reportedly bringing improvements to its business, according to the official statement.
The artificial intelligence boom continues driving both companies' growth trajectories, with AI-powered services becoming increasingly central to their business models and future revenue projections.
Apple posted $27.6 billion in net profits with a surge of 86%, while US-based e-commerce behemoth Amazon recorded $180.2 billion in net profits with a rise of 13%, according to the firms' respective financial results for July–September.
The Cupertino-based tech titan reported record-breaking revenues for the three-month period ending Sept. 27, which the company designates as its fiscal fourth quarter.
Apple's net sales climbed 8% on an annual basis to $102.5 billion, driven by robust demand across multiple product categories. iPhone sales rose 6% to $49 billion, while Mac sales surged 13% to $8.7 billion. iPad sales reached $6.9 billion during the quarter.
Amazon demonstrated equally impressive momentum, with net sales rising 13% year-over-year to $180.2 billion in what the e-commerce powerhouse defines as its third quarter.
The Amazon Web Services (AWS) cloud computing division proved particularly strong, with sales surging 20% to $33 billion as enterprises accelerated digital transformation initiatives. The company's earnings per share climbed from $1.43 to $1.95, reflecting improved operational efficiency.
Amazon said it expects net sales between $206 billion and $213 billion for the fourth quarter, led by strong momentum due to artificial intelligence (AI) reportedly bringing improvements to its business, according to the official statement.
The artificial intelligence boom continues driving both companies' growth trajectories, with AI-powered services becoming increasingly central to their business models and future revenue projections.
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