Apple Reports Record Q4 2024 Results with $94.9 Billion in Revenue

TL;DR: Apple's fiscal Q4 2024 results show a 6% year-over-year increase in revenue, reaching $94.9 billion, driven by strong sales of the iPhone 16, Apple Watch Series 10, and AirPods 4.

Apple has announced its financial results for fiscal Q4 2024, revealing an impressive revenue of $94.9 billion. This figure represents a 6% increase compared to the same quarter last year, underpinned by robust sales of the new iPhone 16, along with the Apple Watch Series 10 and AirPods 4.

Revenue Breakdown

The company generated $46.2 billion specifically from iPhone sales. Other significant contributions included $7.4 billion from its Mac lineup, $7 billion from iPads, and $9 billion from its wearables, home, and accessories segment. Notably, Apple's services revenue also reached an all-time high of $25 billion, marking a 12% increase from the previous year.

Management Insights

Apple's CEO, Tim Cook, expressed excitement over the company's performance in the new September quarter. He stated, "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." He also mentioned the recent release of new privacy features related to Apple Intelligence, which enhances their AI capabilities.

Financial Performance

CFO Luca Maestri indicated that the record business performance during this quarter resulted in around $27 billion in operating cash flow, allowing the company to return over $29 billion to shareholders. He noted, "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."

Apple, Q4, Revenue