Apple is reporting its fourth-quarter and full-year earnings for 2024 on October 31, Halloween. Here is what occurred within the quarter, and what to anticipate from the outcomes.
Apple has confirmed it will likely be holding its quarterly outcomes on October 31. The discharge can be accompanied by the same old investor and analyst convention name, which is able to happen at 5 PM jap time.
The decision often helmed by CEO Tim Cook dinner and CFO Luca Maestri. As Maestri is stepping down from his position on the finish of 2024, this can be his final convention name as CFO, with substitute Kevan Parekh taking on in 2025.
Q3 and This autumn releases
The fourth quarter offers with Apple’s financials for a three-month interval working till the top of September. Whereas this quarter does embody fairly a couple of new merchandise, their launch late within the interval will finally actually matter within the first quarter of the 2024-2025 monetary 12 months.
The discharge of the iPhone 16 assortment on September 20, alongside USB-C AirPods Max, AirPods, the Apple Watch Sequence 10, and Apple Watch Extremely 2 in black, will not make that a lot of a dent within the funds. They are going to, nonetheless, make a significantly greater affect on the Q1 2025 outcomes, with excessive vacation quarter gross sales leading to what’s Apple’s sometimes largest quarter of the 12 months.
Nonetheless, releases from Q3 ought to make extra of a distinction, since they’ve had a whole quarter of gross sales. This mainly consists of Apple’s iPad Professional replace to M4, the iPad Air with M2, and the Apple Pencil Professional.
The third quarter was additionally unseasonably bereft of Mac launches. Expectations of one other Apple Occasion for Mac and iPad has one being held in October, however it will likely be too late to affect the This autumn outcomes.
The year-ago quarter – This autumn 2023
The ends in the This autumn 2023 financials would be the yardstick that analysts will use to match in opposition to the 2024 equivalents.
Apple quarterly income and web revenue as of Q3 2024
In This autumn 2023, Apple reported income of $89.5 billion, a minor 0.7% year-on-year dip from This autumn 2022. It additionally reported an earnings per share of $1.46.
Income from iPhone gross sales rose 2.8% year-on-year to $43.8 billion. In the meantime, the ever-reliable Companies arm noticed continued progress of 16.3% to $22.3 billion.
Nonetheless, the remainder of the items noticed greater dips in monetary efficiency. Gross sales of iPad reached a income of $6.4 billion, down 10.2% from This autumn 2023, whereas Mac plummeted 33.8% YoY to $7.6 billion.
The Wearables, House, and Equipment unit noticed a extra muted drop, down 3.4% to $9.3 billion.
Final quarter – Q3 2024
Q3 2024 noticed Apple enhance significantly in comparison with Q3 2023, with its gross sales beating Wall Avenue expectations in most features.
For the interval, Apple noticed income go as much as $85.78 billion, with an earnings per share of $1.40.
Quarterly items figures, as of Q3 2024
iPhone noticed income of $39.3 billion, a mere 0.9% year-on-year drop. The one different class to see an absence of progress was Wearables, House, and Equipment, which dipped 2.3% to $8.01 billion.
The iPad noticed huge progress, leaping 23.7% year-on-year to $55.6 billion, Mac grew 2.5% to $7.45 billion, and Companies grew 14.1% year-on-year to $23.9 billion.
Full 12 months Outcomes
The fourth quarter often ushers within the full-year outcomes for Apple’s funds, simply forward of the busy vacation season quarter.
Apple’s annual financials, as of the top of 2023
Within the 2023 monetary 12 months, Apple noticed product sales of $383.3 billion, a marginal 2.8% dip from 2022’s file consequence. The gross margin hit $169.1 billion, additionally down 1% year-on-year.
For the primary three quarters of the 12 months, Apple has thus far reported $296.1 billion in product sales and a gross margin of $136.8 billion.