Apple on Thursday introduced its fourth quarter 2024 earnings, posting income of $94.9 billion for the quarter, a 6 p.c enhance 12 months over 12 months, and a document for the quarter. Quarterly earnings per diluted share are $0.97. Diluted earnings per share was $1.64, up 12 p.c 12 months over 12 months. The corporate reported $14.7 billion in revenue.
Apple beat the analysts’ predicted income of $94.58 billion anticipated, $1.60 diluted earnings per share.
Apple continues to see development in Companies, which posted $25 billion in income, a 12 p.c enhance from final 12 months’s $22.3 billion. iPhone gross sales had been up 12 months over 12 months, posting $46.2 billion in income, which is a 5.5 p.c enhance from the fourth quarter of 2023. iPad gross sales had been additionally up, posting $6.9 billion in income, which is a 7.9 p.c enhance. Mac gross sales had been additionally up barely to $7.4 billion, in comparison with $7.6 billion in 2023.
Apple’s Wearables, Residence, and Equipment class was the one place the place the corporate noticed a decline, posting $9 billion in income, a 3 p.c lower from 2023’s $9.3 billion. Apple did state through the announcement name that the Apple Watch put in base reached an all-time excessive, however didn’t supply specifics.
Apple’s revenue this 12 months took successful on account of tax provisions. In a September submitting with the U.S. Securities and Alternate Fee, Apple said that it will “document a one-time revenue tax cost in its fourth fiscal quarter ending September 28, 2024, of as much as roughly $10 billion.” Apple posted a revenue of $23 billion for a similar quarter a 12 months in the past.
How the quarter ended year-over-year for Apple:
- iPhone: $46.2 billion (up from $43.8 billion)
- iPad: $6.9 billion (up from $6.4 billion)
- Mac: $7.7 billion (up from $7.6 billion)
- Wearables: $9 billion (down from $9.3 billion)
- Companies: $25 billion (up from $22.3 billion)
Apple declared a money dividend of $0.25 per share of widespread inventory payable on November 14, 2024, to shareholders of document on the shut of enterprise on November 11, 2024.
“Right now Apple is reporting a brand new September quarter income document of $94.9 billion, up 6 p.c from a 12 months in the past,” stated Tim Cook dinner, Apple’s CEO, in a press launch. “Through the quarter, we had been excited to announce our greatest merchandise but, with the all-new iPhone 16 lineup, Apple Watch Collection 10, AirPods 4, and noteworthy options for listening to well being and sleep apnea detection. And this week, we launched our first set of options for Apple Intelligence, which units a brand new normal for privateness in AI and supercharges our lineup heading into the vacation season.”
This monetary earnings announcement was the final for Apple CFO Luca Maestri, who introduced final August that he’s stepping down from the function. Kevan Parekh will change into Apple’s new CFO subsequent 12 months.