Apple turned in a better-than-expected earnings in the third quarter of 2024 as strong performance in India and other regions as well as the buzz around Apple Intelligence have offset a decline in its key China market.

Apple reported a new June quarter revenue record of $85.8 billion, up 5 per cent from a year ago.

“We set quarterly revenue records in more than two dozen countries and regions, including Canada, Mexico, France, Germany, the UK, India, Indonesia, the Philippines, and Thailand. And we set an all-time revenue record in services, which grew 14 per cent,” said Apple CEO Tim Cook during the earnings call.

A shining spot for the company has been the introduction of its latest iPad Pro and iPad Air tablets a few months ago, leading to a significant boost for the company’s iPad division. The company’s Mac business too performed well but iPhone and wearables revenue was relatively flat as consumers are looking at a new wave of products soon.

“Mac generated $7 billion in revenue, up 2 per cent year-over-year, driven by the MacBook Air powered by the M3 chip. We saw particularly strong performance in our emerging markets, with June quarter records for Mac in Latin America, India, and South Asia,” said Luca Maestri, senior vice-president and chief financial officer, Apple.

However, Apple sales declined 6 per cent to $14.72 billion in greater China, which includes Taiwan and Hong Kong. In mainland China, competition is building up from the likes of Huawei.

“I don’t know how every chapter of the book reads but we’re very confident in the long term,” Cook said.