I took a day off yesterday for Halloween, but it seems like Apple didn't, at least on the earnings side of things. Apple reported its Q4 2024 (July through September) earnings yesterday. Here's what was announced.
First, revenue is up 6% YoY (and 0.36% compared to analyst expectations) and is now at $94.93 billion, a new record for Q4. This number breaks down into $24.97 billion for Services (11.91% higher than last year), $46.22 billion for iPhone (+5.5% YoY, but don't think this is how the iPhone 16 is performing: only when Q1 2025 comes are we going to see the full impact instead of just a couple weeks' impact), $6.95 billion for iPad (+7.87% YoY), $7.74 billion for Mac (+1.71% YoY), and $9.04 billion for Wearables, Home, and Accessories (-3% YoY), the only category down.
Also, EPS (earnings-per-share) is $0.97 and income is $14.74 billion including the $10.2 billion Apple had to give the Irish government in back tax (otherwise the EPS is $1.64, 10.8% higher than analysts expected). Products launched in the quarter included the iPhone 16 lineup, the AirPods 4, the Apple Watch Series 10, the Apple Watch Ultra in Black Titanium, and iOS 18 with hype for hearing aid features for AirPods Pro, sleep apnea detection for Apple Watch, and Apple Intelligence in the now-released iOS 18.1. According to Luca Maestri (Apple's CFO), operating cash flow was "nearly $27 billion", returns were "over $29 billion", and the "active installed base of devices reached a new all-time high across all products and geographic segments" (what the "all-time high" number is, we don't know).
By Leo
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