Apple and Amazon announced their third-quarter earnings!

Apple and Amazon Share Q3 Results

Apple and Amazon have announced their financial results for the July-September period. Both technology giants drew attention with their increase in net sales.

Apple's Financial Success

The 3-month period ending on September 27 is considered the fourth quarter for Apple. The company reported a net sales increase of 8% year-over-year to $102.5 billion. Last year's figure was $94.9 billion.

Net income rose 86%, reaching $27.5 billion. In the same quarter last year, this figure was $14.7 billion. Earnings per share increased from $0.97 to $1.85.

Increase in iPhone Sales

Apple experienced increases in iPhone and Mac sales, while iPad sales remained nearly flat. During this period, iPhone sales rose 6% to $49 billion. Mac sales increased by 13% to $8.7 billion, while iPad sales were recorded at $6.9 billion. Apple CEO Tim Cook emphasized that they achieved record revenue during the quarter.

Amazon's Growth Wind

Similarly, Amazon also demonstrated strong performance in its third-quarter financial report. Amazon's net sales increased by 13% year-over-year, reaching $180.2 billion (up from $158.9 billion last year).

Amazon's cloud services unit, AWS, achieved $33 billion in sales, representing a 20% year-over-year increase. Its net income rose to $21.2 billion, compared to $15.3 billion last year. Earnings per share increased from $1.43 to $1.95.

Amazon announced it expects net sales to be between $206-213 billion in the fourth quarter. Amazon CEO Andy Jassy highlighted improvements in business processes brought by artificial intelligence.