7 hours Ago By [email protected] (Malcolm Owen)
Affiliate Disclosure If you buy through our links, we may get a commission. Read our ethics policy . Apple beats Wall Street predictions with record-breaking iPhone sales revenue Malcolm Owen | Oct 31, 2024 Apple CEO Tim Cook [left] and outgoing CFO Luca Maestri [right] 1 Facebook x.
com Reddit Last updated 24 minutes ago The final quarter of Apple's fiscal year, Thursday saw Apple release its results for the three-month period that concluded at the end of September. As the end-of-year results, it was also the opportunity for Apple to report its full-year results. In the fourth quarter, Apple achieved $94.
93 billion in revenue, up from the $89.5 billion it reported in Q4 2023 . The earnings per share was also declared at $1.
64. The Wall Street consensus was for $94.4 billion in revenue and $1.
55 for the earnings per share. Revenue from iPhone was $46.22 billion, upfrom $43.
8 billion in the same quarter last year. Sales from iPad was $6.95, an increase from $6.
43 billion in the year-ago quarter, while Mac revenue rose from $7.6 billion one year ago to $7.74 billion this year.
Services, a continually reliable source of growth for the company, continued its upward march from $22.3 billion in Q4 2023 to $24.7 billion this quarter.
Wearables, Home, and Accessories hit $9.04 billion, the only blemish in the figures, as it's down from $9.32 billion.
The product launches in the quarter include the iPhone 16 range, AirPods Max with USB-C, the Apple Watch Series 10 , and a new black colorway for the Apple Watch Ultra 2 . However, their launches will benefit Apple more in Q1 2025 since they launched late in Q4. Third-quarter launches will make more of an impact on Apple's financials, due to there being an entire quarter of sales for them.
That list includes the iPad Pro on M4 , the iPad Air with M2 , and the Apple Pencil Pro . For Apple's full-year results for 2024, gross sales reached $391 billion, upfrom 2023's $383.3 billion.
The gross margin hit $180.7 billion, up from 2023's level. The results, and the following call with analysts, will be CFO Luca Maestri 's last alongside CEO Tim Cook .
Maestri is stepping down from his role in January, with VP of Financial Planning and Analysis Kevan Parekh taking over. "Today Apple is reporting a new September quarter revenue record of $94.9 billion, up 6 percent from a year ago," said Cook.
"Our record business performance during the September quarter drove nearly $27 billion in operating cash flow, allowing us to return over $29 billion to our shareholders," said Maestri. The outgoing CFO continued "We are very pleased that our active installed base of devices reached a new all-time high across all products and all geographic segments, thanks to our high levels of customer satisfaction and loyalty.".
