CUPERTINO, November 6 – Apple has reported an impressive $94.93 billion in revenue for fiscal Q4 2024, marking a 6% increase compared to the same period last year. This achievement sets a new revenue record for the September quarter, surpassing analysts’ expectations of $94.59 billion. The boost was largely driven by strong sales from the newly launched iPhone 16, Apple Watch Series 10, and other recent product updates.
Despite this success, Apple’s net income was impacted by a one-time $10.2 billion tax charge following a recent EU order to pay back taxes to Ireland. Accounting for this expense, Apple’s net income for the quarter was $14.74 billion, with earnings per share (EPS) at $0.97. Excluding the tax charge, EPS would have been $1.64, well above the anticipated $1.48.
Product-wise, Apple saw growth across key categories: iPhone revenue rose by 5.5% to $46.22 billion, while iPad revenue increased by 7.87% to $6.95 billion. The Services sector also achieved significant growth, reaching $24.97 billion, an 11.91% year-over-year increase, while Wearables, Home, and Accessories saw a slight decline of 3%. CEO Tim Cook attributed the record-breaking results to Apple’s “best products yet,” citing innovations in hearing health, sleep apnea detection, and privacy features powered by Apple Intelligence.
Apple CFO Luca Maestri highlighted that this quarter’s performance generated nearly $27 billion in operating cash flow, enabling the company to return over $29 billion to shareholders. “We’re thrilled with the growing installed base across all products and regions, thanks to our high customer satisfaction and loyalty,” said Maestri, underscoring Apple’s continued focus on customer-centric innovation.
