Apple reported its fourth quarter results for December 2024, achieving record highs in both revenue and net profit for the quarter. Total revenue amounted to $124.3 billion, up by 4% from the same period last year, with a net profit of $36.33 billion, translating to $2.40 per share (EPS).
Tim Cook, Apple’s CEO, hailed it as the company’s best quarter yet, attributing the success to top-of-the-line products and services during the holiday season. The utilization of Apple Silicon empowered Apple to unlock user capabilities through Apple Intelligence, delivering an improved user experience.
Kevan Parekh, Apple’s CFO, highlighted the strong revenue and operational profit margins, leading to a two-digit growth in earnings per share. This enabled the company to return over $30 billion to shareholders, with record-high device usage across all products and regions.
The iPhone accounted for over half of Apple’s total revenue, with sales totaling $69.139 billion, down by 1%. The Services business revenue increased by 14% to $26.34 billion, while Mac sales rose by 16% to $8.987 billion and iPad sales increased by 15% to $8.088 billion.
Regional sales saw growth across the board except in mainland China, where sales declined by 11% to $18.513 billion.
Other noteworthy points from the earnings call include:
– Apple has over 2.35 billion active devices worldwide.
– Despite a decrease in overall iPhone sales, growth was seen in markets that support Apple Intelligence in local languages.
– Sales in China declined due to various factors, including limited language support for Apple Intelligence (set for April).
– iPad sales saw a significant increase driven by iPad Air and iPad Mini.
– Cook mentioned DeepSeek innovation driving various efficiencies, with Apple maintaining a cautious capital investment model.
– Cook confirmed continued innovation in new technologies being integrated into the iPhone.
Following the earnings report, Apple’s stock price rose by approximately 3%.
TLDR: Apple’s Q4 results show record revenue and profit, driven by strong iPhone sales and growth in services and hardware across regions, with promising innovations on the horizon.
Leave a Comment