Apple Reports Q4 2024 Financial Results

Last quarter, Apple reported revenue of $85.8 billion, which was a 5% year-over-year gain.

Today, fourth-quarter earnings are out and Apple reported revenue of $94.9 billion, a 6% year-over-year gain. Also, the diluted earnings per share was $1.64 a 12% year-over-year gain. Both revenue and earnings beat Wall Street expectations.

Tim Cook had this to say:

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.

Going into today’s earnings Yahoo Finance reported on analyst expectations:

For the quarter, Wall Street expects Apple to report earnings per share (EPS) of $1.59 on revenue of $94.3 billion, according to Bloomberg consensus estimates. The company saw EPS of $1.46 on revenue of $89.4 billion during the same period last year.

One question that is sure to be on analysts minds as Apple enters the holiday season is whether Apple Intelligence, which has been heavily marketed and is only available on Apple’s latest model devices, will move the needle on iPhone and other device upgrades. By then, at least some of the planned Apple Intelligence features will have been in customers’ hands for a while and may help drive demand.