Apple introduced its fourth-quarter 2024 earnings on Thursday, posting income of $94.9 billion for the quarter, a rise of 6 % 12 months over 12 months and a document for the quarter. Quarterly earnings per diluted share are $0.97. Diluted earnings per share have been $1.64, up 12 % 12 months over 12 months. The corporate obtained earnings of 14.7 billion {dollars}.
Apple beat analysts’ anticipated income of $94.58 billion, $1.60 diluted earnings per share.
Apple continues to see progress in Companies, which posted $25 billion in income, a 12 % enhance from $22.3 billion final 12 months. iPhone gross sales elevated 12 months over 12 months, recording $46.2 billion in income, representing a 5.5 % enhance from the fourth quarter of 2023. iPad gross sales additionally elevated, recording $6.9 billion in income, representing a rise of seven.9 %. Mac gross sales additionally rose barely to $7.4 billion, up from $7.6 billion in 2023.
Apple’s Wearables, Residence and Equipment class was the one place the corporate noticed a decline, posting $9 billion in income, a 3 % decline from $9.3 billion in 2023. Apple mentioned throughout the announcement name that the Apple Watch put in base reached an all-time excessive, however didn’t supply particulars.
Apple’s earnings this 12 months took successful because of tax provisions. in a September presentation Earlier than the US Securities and Trade Fee, Apple acknowledged that it will “document a one-time earnings tax cost in its fiscal fourth quarter ending September 28, 2024, of as much as roughly $10 billion.” Apple posted a revenue of $23 billion in the identical quarter final 12 months.
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)
- Waterproof: $7.7 billion (up from $7.6 billion)
- Moveable gadgets: $9 billion (up from $9.3 billion)
- Companies: $25 billion (up from $22.3 billion)
Apple declared a money dividend of $0.25 per frequent share payable on November 14, 2024 to shareholders of document as of the shut of enterprise on November 11, 2024.
“At this time, Apple experiences a brand new September quarter income document of $94.9 billion, up 6 % from a 12 months in the past,” Apple CEO Tim Cook dinner mentioned in a information launch. “Throughout the quarter, we’re excited to announce our greatest merchandise but, with the brand new lineup of iPhone 16, Apple Watch Collection 10, AirPods 4, and notable options for listening to well being and sleep apnea detection. And this week, we launched our first set of options for Apple Intelligence, setting a brand new commonplace for privateness in AI and boosting 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’ll go away workplace. Kevan Parekh will grow to be Apple’s new CFO subsequent 12 months.
