(Nic Coury/AFP via Getty Images)

Apple iPad sales up, iPhone sales down, as Services posts record $24 billion revenue

Customers await “Apple Intelligence”

8/1/24 7:32PM

Apple Q3 earnings showed a bump in Mac and iPad sales, but a continued dip in iPhone sales as customers wait for the new “Apple Intelligence” features to roll out to iOS18 later this year, in what CEO Tim Cook called a “staggered release.”

All eyes are on the company as it places Apple Intelligence at the center of its growth strategy, as it aims to assure investors that it hasn’t fallen behind in the race to deploy AI everywhere, like its competitors. Apple has already delayed the rollout of some of its promised features of Apple Intelligence, though this week it released an iOS18 beta release with a subset of the features for developers to test.

Apple CEO Tim Cook said iOS integration with OpenAI’s ChatGPT will arrive by the end of the calendar year, while other features will arrive with iOS18’s fall release. On Apple’s Q3 earnings call, Cook said, “We're taking this first step in getting the beta out there, and we can't wait to see what kind of amazing things they do with it.”

New iPad Air and iPad Pro models led to a 24% increase in sales year-over-year. iPhone sales showed a second consecutive quarterly decline of 1%, generating $39.2 billion in sales with a larger 6.5% decline of iPhone sales in Greater China.

Services, which includes App Store, Apple Music, iCloud, and AppleTV+, reached a new high with $24 billion in revenue, a 14% increase year-over-year.

On the earnings call, Tim Cook was asked if there was pent-up demand for new, faster iPhones to take advantage of the forthcoming AI features.

Cook said, “It's very difficult mid cycle to call upgrade rates. I would just say that with Apple Intelligence, we're very excited about the level of value that we're going to provide to users, and we believe that that presents another reason for a compelling upgrade.”

This week Meta and Microsoft both told investors to prepare for huge investments in AI infrastructure going forward. On the call, Cook said that Apple has been investing in AI and machine learning for years, sometimes re-deploying internal resources to the effort, so the reported numbers may not reflect the true investment.

“On the capex part, it's important to remember that we employ a hybrid kind of approach, where we do things internally, and we have certain partners that we do business with externally, where the capex would appear in their respective businesses. But, yes you can expect that we will continue to invest and increase it year on year,” said Cook.

Max Knoblauch6/15/26

Electronic Arts launches a platform to put more ads in its games

Video game publishing giant EA launched a new platform on Monday designed to make the process of selling immersive ad space in its popular games easier.

The company says the platform, called EA Advertising, allows brands to “integrate directly into gameplay through dynamic, real-time placements, from stadium signage to custom in-game content.”

More so than other studios, EA has incorporated advertising into its most popular titles. As Kotaku points out, the company’s ad efforts stretch as far back as 2006. Several of its sports franchises already feature partnerships with brands like Visa, Lowe’s, Red Bull, and PepsiCo.

In-game advertising hasn’t exactly been embraced by fans, but industry experts expect it to ramp up as companies seek more revenue to offset higher games budgets and surging memory costs. EA rival Take-Two has taken a different approach, with CEO Strauss Zelnick recently saying the company was “not at risk of doing brand partnerships” in the forthcoming “Grand Theft Auto VI,” and that ads in full-price games seems “unfair.”

The $55 billion deal to take EA private, led by Saudi Arabia’s Public Investment Fund, is set to close at the end of this month. Being the largest leveraged buyout in history, EA will likely look for more ways to boost revenue to cover interest payments.

Electronic Arts Makes Push for Ad Dollars Tied to Sports

Millie Giles6/11/26

JM Smucker says it sold $1 billion worth of Uncrustables in FY2026

After years of booming sandwich sales, JM Smucker has finally earned a billion-dollar crust.

On Tuesday, the company reported results for fiscal year 2026, highlighting better-than-expected profits driven by higher prices for coffee and sweet baked goods. However, at another point on the earnings call, CEO Mark Smucker pointed to one particularly jammy figure: in line with previous forecasts, the company sold $1 billion worth of its (almost always) crustless sandwiches, Uncrustables, in the last year alone.

Max Knoblauch6/8/26

Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

$98B ⛽

Max Knoblauch6/8/26

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

Hollywood Exteriors And Landmarks - 2025

1 year into the Switch 2, we might’ve seen the top of the console market

The Switch 2 launched on this day in 2025. Amid a rough year for consoles, Nintendo has logged a good one.

Max Knoblauch6/5/26