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Apple revenues rise on strong services business and iPad sales

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Apple revenues rise on strong services business and iPad sales

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Apple’s revenue increased 5 per cent in the three months to the end of June, as earnings from its services business and a surge in iPad purchases offset a decline in iPhone sales and a continued slowdown in China.

Total net sales rose to $85.8bn from $81.8bn in the second quarter of 2023, beating analysts’ expectations for $84.5bn. Net income rose 8 per cent to $21.4bn from $19.9bn, while earnings per share were up 11 per cent year on year to $1.40 versus the consensus estimate for $1.35.

Shares flipped between small gains and losses in after-hours trading on Thursday. Apple has risen 18 per cent this year and is the most valuable company in the world with a market capitalisation of $3.3tn.

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Blemishing the quarter, revenue for the closely watched greater China region declined again, falling 7 per cent to $14.7bn from $15.8bn a year earlier, as Apple continues to face competitive pressure from local handset makers and a ban from governmental use.

While acknowledging the challenges faced in the country amid US-China geopolitical tensions, chief financial officer Luca Maestri said that on a constant currency basis the fall in sales was only 3 per cent and the rate of decline was slowing.

More encouraging was Apple’s services business — which includes the App Store, Apple Pay and the TV+ streaming platform — which continued to accelerate, rising to $24.2bn from $21.bn a year ago.

Revenue from its flagship iPhone was $39.3bn, down slightly from $39.7bn a year ago. This was offset by a 24 per cent jump in iPad sales to $7.2bn, driven by the release in May of a series of new models with more powerful chips and larger screens.

“[The] focus will be on underlying demand across various product categories, especially iPhones given concerns around overall smartphone market and China competition,” said Citigroup analyst Atif Malik.

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Apple is bullish at the prospect of many customers upgrading to the newest iPhone models to gain access to new artificial intelligence features. With the iPhone 16 expected to launch in September, investors are watching closely for signs of how quickly the anticipated AI boost will start to show.

Apple announced the new features, known as “Apple Intelligence”, at its developer conference in June. A beta version of the AI-enhanced iPhone operating system, iOS 18.1, became available to developers this week. A deal with OpenAI will also give Apple users free access to ChatGPT, and Apple has explored partnerships with other big model providers such as Google.

“The Apple intelligence rollout will provide something that we think is relevant for users and another compelling reason to upgrade,” Maestri said.

Research and development expenses rose 8 per cent to $8bn in the quarter. Maestri declined to comment on how much of this was spent on AI, including the infrastructure needed to train and run its own large language models. Apple plans to run those models on-device and in its own data centres, which it says will better protect users’ privacy and data.

“We have significantly increased our level of effort on AI over the course of the year,” Maestri said. “We redeployed engineering resources from other programmes to AI because we recognised the need and importance of this new tech.”

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Last month Apple’s new mixed reality headset, the Vision Pro, launched for consumers in Europe, China, Hong Kong, Singapore, Japan and Australia.

Apple announced a dividend of 25 cents a share worth $3.7bn for the quarter, with total shareholder returns rising to $32bn when buybacks were included.

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Five years after the Surfside condo collapse, killing 98, what’s changed?

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Five years after the Surfside condo collapse, killing 98, what’s changed?

Andrea (left), Pablo (center), and Martin Langesfeld (right) hold a photograph of their daughter and sister, Nicky Langesfeld and her husband Luis Sadovnic, at a park in Doral, Fla., where the city named a street Nicky Langesfeld Place to honor her memory, Martin says, “as a reminder that she’ll be here with us forever.” Nicole “Nicky” and Luis were two of the 98 people killed when the Champlain Towers South condominium building collapsed in Surfside on June 24, 2021.

Meredith Nierman/NPR


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Meredith Nierman/NPR

SURFSIDE, Fla. — Just around the corner from where a beachfront condominium collapsed five years ago, there’s a makeshift memorial: a plastic banner strung up on a wood frame, with the names of the 98 victims, ranging in age from a year-old infant to a 92-year-old grandmother.

“It’s an unfortunate reminder of how big this tragedy was,” says Martin Langesfeld, locating the name of his sister Nicky, 26, and her husband Luis Sadovnik, 28. “It’s more than just names. It’s stories. It’s families.”

Two-thirds of the 12-story Champlain Towers South building collapsed just after 1 a.m. on June 24, 2021. It started when the pool deck caved in. Seven minutes later, as many of the occupants were sleeping, the tower began to fall.

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Five escaped, and three were rescued from the rubble with severe injuries by first responders. Search teams evacuated residents in the remaining part of the building, which was demolished 10 days later for safety reasons.

Search and rescue personnel work in the rubble of the 12-story condo tower that crumbled to the ground during a partially collapse of the building on June 24, 2021 in Surfside.

Search and rescue personnel work in the rubble of the 12-story, beachfront Champlain Towers South condominium that crumbled to the ground on June 24, 2021 in Surfside.

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Hundreds were left without a home and belongings, and the state was forced to grapple with how it regulates structural safety.

Langesfeld is among those who’ve been pushing to improve what they consider a lax system of building oversight. His sister and brother-in-law were newlyweds, who had moved into the condo together just a few months earlier.

“A dream place, home, where you feel you’re safest is where they were killed,” he says.

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He’s also frustrated there is no permanent memorial honoring the victims, while a new luxury condo is going up on the land where Champlain Towers once stood.

“It’s been almost five years and there’s no development for the memorial,” he says. “And the development for the new building is very well underway.”

The North Tower of the Champlain Towers condominium complex stands on April 27, 2026, overlooking the vacant site where its sister building, Champlain Towers South, collapsed on June 24, 2021. The collapse resulted in 98 deaths and remains one of the largest structural failures in U.S. history. A new luxury condominium complex, the Delmore, is slated for construction on the empty lot.

The North Tower of the Champlain Towers condominium complex stands on April 27, overlooking the vacant site where its sister building, Champlain Towers South, collapsed on June 24, 2021. The collapse resulted in 98 deaths and remains one of the largest structural failures in U.S. history. A new luxury condominium complex, the Delmore, is slated for construction on the empty lot.

Meredith Nierman/NPR


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Technical findings released Monday by the National Institute of Standards and Technology concluded the problem started about three weeks before the collapse when two connections between garage columns and the pool deck failed, causing cracks to grow and loads to shift to connections that were not strong enough to support them.

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Trump says proof of his allegations that vandals cut Reflecting Pool paint will be provided in court

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Trump says proof of his allegations that vandals cut Reflecting Pool paint will be provided in court

Washington — President Trump on Monday said proof will be provided in court of his allegations that vandals “cut” a massive slit in the Lincoln Memorial Reflecting Pool, which he claims is the reason the paint is peeling on the recently renovated but algae-plagued project. 

In an exchange with CBS News senior White House correspondent Ed O’Keefe, Mr. Trump insisted that vandals, rather than questionable craftsmanship, are responsible for the enduring problems following the $14.7 million sealant job. The president claimed vandals cut a 350-foot slit in the pool between the World War II Memorial and the Lincoln Memorial. Five people have been arrested for vandalism related to the Reflecting Pool, and five additional individuals were issued federal citations, according to the U.S. Park Police, although neither the company behind the project nor the U.S. Park Service has said a cut slit was responsible for the peeling. 

Asked if he had proof, such as photos or video, that vandals used a knife to cut a massive slit in the pool, Mr. Trump responded: “Well, let’s put it this way, when you have a 350, I think it’s 350, not 250, when you have a 350-foot slit, from one end to the other, you think that’s proof? You think that’s proof?” 

O’Keefe noted that reporters had been to the site and found no evidence of a slit.

“Well, you’d have to go see the Parks Department. They’ll show it to you, or see, see the secretary, but I saw it,” Mr. Trump said, likely referencing Interior Secretary Doug Burgum. “They cut it, they cut it very violently. The same thing with the floor, they cut it, and then they lifted it. They pulled it, and that’s what it is.”

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After defending the project, the president said, “We also have pictures.”

O’Keefe asked the president for evidence of his claims. 

“Yeah, at the right time you’ll see it,” Mr. Trump said. “You’ll see it in court. You’ll see it in court, but all you have to do is call the Parks Department, call the Department of Interior.”

Blue coating is seen among algae in the Lincoln Memorial Reflecting Pool Sunday, June 21, 2026, on the National Mall in Washington. (AP Photo/Jon Elswick

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Jon Elswick


The president also suggested someone may have placed fertilizer in the water to create the algae that teams have been attempting to clear. 

“If you put fertilizer in the water, you get algae, but somebody said they might have put fertilizer, they did something to create the algae,” the president said, again without providing evidence for his claims.

CBS News has reached out to the National Park Service and the Department of the Interior. So far, there’s been no response.  

Atlantic Industrial Coatings, which received a no-bid contract to install the sealant on the floor of the Reflecting Pool, told CBS News there are “some areas” that “require repairs.” 

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“These areas are a very small part of the massive 7-acre project, and do not indicate a failure of the liner,” the company said. “These repairs can not be made until the pool is drained. As soon as it’s feasible for the park, the pool will be drained and AIC will be back to make those needed repairs as part of the warranty.”

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Video: The Rise of Deadly Trucks and S.U.V.s

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Video: The Rise of Deadly Trucks and S.U.V.s

new video loaded: The Rise of Deadly Trucks and S.U.V.s

A once-steady decline in pedestrian deaths in the United States has reversed, even as other countries have grown safer. Michael Keller, a New York Times investigative reporter, used crash test results, 3-D visibility scans and real-world reconstructions to explore how the boom in taller, heavier trucks and S.U.V.s has changed what happens when a person is struck.

By Michael H. Keller, Danielle Ivory, Irineo Cabreros, Eli Murray, Gabriel Blanco and Joey Sendaydiego

June 22, 2026

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