Apple Reports 6% Increase in Quarterly Revenue for Q4 2024

Apple (NASDAQ:AAPL) has recently released its financial results for the fourth quarter of the fiscal year 2024, which concluded on September 28, 2024. The tech giant reported that its quarterly revenue reached $94.9 billion, representing a 6% increase compared to the same period last year. The diluted earnings per share for this quarter were $0.97, which rose to $1.64 when excluding a one-time charge related to the reversal of the European General Court’s State Aid decision that impacted the fourth quarter of 2024.

Tim Cook, Apple’s CEO, expressed excitement about the company’s performance and highlighted a noteworthy achievement, marking a new revenue record for the September quarter. The considerable revenue growth was credited to the successful introduction of new products, including the iPhone 16 lineup, Apple Watch Series 10, and AirPods 4, along with innovative features such as those that enhance hearing health and assist in sleep apnea detection.

Luca Maestri, Apple’s Chief Financial Officer, underscored the company’s strong financial health, citing over $27 billion generated in operating cash flow during the quarter, which facilitated the return of more than $29 billion to shareholders. In addition, the active installed base of Apple devices reached a record high across all products and regions, highlighting strong customer satisfaction and loyalty.

The board of directors at Apple has declared a cash dividend of $0.25 per share of its common stock, which is set to be paid on November 14, 2024, to shareholders who are on record as of November 11, 2024. A live stream of the Q4 2024 financial results conference call will take place on October 31, 2024. Following the event, the call will be available for replay for a limited time.

While Apple continues to showcase impressive financial results, the company acknowledges potential risks and uncertainties in its future statements. These factors include global economic conditions, competitive market dynamics, technological challenges, and legal considerations that could influence upcoming outcomes.

Remaining at the forefront of innovation, Apple offers a wide array of products and services through various software platforms. Boasting a dedicated workforce of over 150,000 employees, Apple persists in striving for excellence in product development while upholding its commitment to sustainability and social responsibility.

For additional insights about Apple’s financial performance and other information, you can visit the company’s official website.

Apple, Revenue, Earnings