Business Desk 
Nov 02, 2024
Apple released its earnings reports for fiscal Q4 2024 on Thursday, surpassing Wall Street expectations for revenue and earnings per share. It reported revenue of $94.93 billion during a three-month period, setting up the latest September quarter revenue record.
Moreover, it experienced a meteoric rise to 6% in iPhone and overall sales and Apple CEO Tim Cook told CNBC’s Steve Kovach that “stronger than 14 in the year-ago quarter, and 16 was stronger than 15.”
Apple’s fiscal Q4 2024 started on June 30 and ended on September 28.
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AAPL Q4 2024 earnings
After being forced to pay €13 billion in back taxes to the Irish government, Apple’s earning in this quarter includes a one-time income tax, which is almost $10 billion. After comprising it, Apple's quarterly net-income rose to $14.74 billion.
However, Apple reported $0.97 earnings per share for Q4 2024, but after the deduction of the one-time charge, the company reported $1.64 earnings per share.
Here is a complete breakdown of revenue according to each product category:
- Total revenue: $94.93 billion (up 6% year-over-year)
- iPhone: $46.22 billion (up 5.5% year-over-year)
- Mac: $7.74 billion (up 1.71% year-over-year)
- iPad: $6.95 billion (up 7.87% year-over-year)
- Wearables, Home, and Accessories: $9.04 billion (down 3% year-over-year)
- Services: $24.97 billion (up 11.91% year-over-year)
Apple CEO Tim Cook recognised the company’s performance in Q4 2024 with the introduction of the latest iPhone 16 and other hardware developments:
“Today Apple is reporting a new September quarter revenue record of $94.9 billion, up 6 percent from a year ago. During the quarter, we were excited to announce our best products yet, with the all-new iPhone 16 lineup, Apple Watch Series 10, AirPods 4, and remarkable features for hearing health and sleep apnea detection. And this week, we released our first set of features for Apple Intelligence, which sets a new standard for privacy in AI and supercharges our lineup heading into the holiday season.”
Apple CFO Luca Maestri stated: “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. 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.”
