Apple just reported its Q4 2024 earnings, and the numbers are looking pretty good. The company hit $94.9 billion in revenue—a 6% year-over-year growth—while quarterly diluted earnings per share (EPS) came in at $0.97. After handling a hefty $10.2 billion tax dispute in Ireland, their adjusted EPS lands at $1.64, up 12% from last year.
Tim Cook pointed to Apple’s latest hits: the iPhone 16, Apple Watch Series X, and AirPods 4 as key drivers. And then there’s “Apple Intelligence”—the new AI-powered suite—launched just days before earnings.
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Apple’s Q4 2024 earnings:
- Products: Revenue hit $70 billion (up 4% YoY). The iPhone led with $46.2 billion, with a 6% YoY growth. iPad surged 8% ($7 billion), with record new buyers; Mac saw $7.7 billion, a 2% YoY growth driven most by MacBook Air.
- Wearables, Home and Accessories: Dropped 3% YoY to $9 billion, though Apple Watch reached a new user high.
- Services: All-time high at $25 billion, up 12% YoY, with over 1 billion paid subscriptions globally.
Now, let’s talk about India. Apple’s revenue here hit an all-time high, according to CFO Luca Maestri. That said, Cook is now planning to launch four new stores in the country—spanning Bengaluru, Pune, Delhi NCR, and a second one in Mumbai. There are already two stores in the country, which were opened last year, in 2023.
Apple also started local production of iPhone 16 models this year, including Pro variants. They also trimmed Pro model prices in India this year and, that too, by a significant margin.
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Apple didn’t stop at India; they also set record September-quarter sales across the Americas, Europe, and Asia-Pacific. They’re seeing high demand in countries like the U.S., Brazil, Mexico, France, the U.K., Malaysia, Thailand, Saudi Arabia, and the UAE, proving the Apple brand is on a global high.
“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,” Cook stated.
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