New york: American tech giant Apple posted USD27.6 billion in net profits with a surge of 86 percent, while US-based e-commerce behemoth Amazon recorded USD180.2 billion in net profits with a rise of 13 percent, according to the firms' respective financial results for July-September.
According to Philippines News Agency, Apple posted record revenues in the three-month quarter ending Sep. 27, which the firm defines as its fourth quarter. Apple's net sales climbed 8 percent on an annual basis to USD102.5 billion, while its iPhone sales rose 6 percent to USD49 billion. Mac sales surged 13 percent to USD8.7 billion, and iPad sales reached USD6.9 billion.
Meanwhile, Amazon's net sales rose 13 percent year-on-year to USD180.2 billion in what the firm defines as its third quarter. The Amazon Web Services (AWS) cloud computing service sales surged 20 percent to USD33 billion, and the e-commerce giant's earnings per share rose from USD1.43 to USD1.95.
Amazon said it expects net sales between USD206 billion and USD213 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.
