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Apple announces third-quarter 2024 financial results: revenue of $85.8 billion and profit of $21.4 billion

2024-08-02

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Source: Huanqiu.com

【Global Network Technology Comprehensive Report】On August 2, Apple announced its financial results for the third quarter of 2024.


macrumors

For the quarter, Apple achieved revenue of $85.8 billion and net income of $21.4 billion, or $1.40 per diluted share, up from revenue of $81.8 billion and net income of $19.9 billion, or $1.26 per diluted share, in the same period last year.


macrumors

Apple set new records for revenue and earnings per share in the June quarter, with the Services category also setting a new all-time revenue record. The iPad category also saw significant revenue growth, thanks to the launch of the new iPad Pro and iPad Air.

Gross margin for the quarter was 46.3%, up from 44.5% in the same period last year. Apple also announced a quarterly dividend payment of $0.25 per share, payable on August 15 to shareholders of record on August 12.

“Today, Apple reported a new June quarter revenue record of $85.8 billion, up 5 percent year-over-year,” said Tim Cook, Apple’s CEO. “During the quarter, we were excited to announce amazing updates to our software platform at WWDC, including Apple Intelligence, a breakthrough personal intelligence system that puts powerful, private, generative AI models at the heart of iPhone, iPad, and Mac. We very much look forward to sharing these tools with our users as we continue to make significant investments in innovation that will enrich our customers’ lives, while putting first the values ​​that drive our work.”

As for hardware products, in the third quarter earnings conference call for fiscal 2024, Tim Cook said that the iPhone 15 models performed better than the iPhone 14 models. The installed base in the June quarter hit a record high. As for the iPhone 16, the company is "very excited" about Apple Intelligence and the level of value Apple will provide to users. Cook also said that Apple Intelligence provides "another compelling reason to upgrade."