Companies /Technology

Apple Inc.

NASDAQ: AAPL Consumer Electronics
$319.70
â–² $5.12 (+1.63%) today
Markets closed · 4:52pm ET

Q4 2024 Earnings

Reported Oct 31, 2024, 4:30pm ET · SEC source
$1.64
Beat +2.50%
EPS · est. $1.60
$94.9B
Beat +0.37%
Revenue · est. $94.6B
+2.6%
Beating market
AAPL vs S&P since report
10 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+0.9%+1.8%+2.7%Oct 31Nov 1report 4:30pm ETearnings+0.4%+0.3%
0+0.9%+1.8%+2.7%Oct 31Nov 1earnings+0.4%+0.3%
AAPL +0.3%S&P 500 +0.4%
0+0.9%+1.8%+2.7%Oct 31Nov 1report 4:30pm ETearnings+0.8%+0.3%
0+0.9%+1.8%+2.7%Oct 31Nov 1earnings+0.8%+0.3%
AAPL +0.3%NASDAQ +0.8%
0+2%+4%Oct 30Nov 8report 4:30pm ETearnings+5.1%+1.7%
0+2%+4%Oct 30Nov 8earnings+5.1%+1.7%
AAPL +1.7%S&P 500 +5.1%
0+3%+6%Oct 30Nov 8report 4:30pm ETearnings+6.1%+1.7%
0+3%+6%Oct 30Nov 8earnings+6.1%+1.7%
AAPL +1.7%NASDAQ +6.1%
−1.33%
Day of report
−0.40%
Next session
+1.82%
One week
+9.02%
30 days

S&P 500 over the same 30 days: +6.41%.

Did AAPL Beat Earnings? Q4 2024 Results

Apple delivered a standout fiscal fourth quarter, with non-GAAP adjusted diluted EPS of $1.64 clearing the $0.95 consensus estimate by 72.63%, as revenue climbed 6.1% year over year to $94.93 billion. The headline earnings figure reflected a deliberate separation from a significant one-time headwind: a $10.25 billion income tax charge tied to the European Court of Justice's ruling that Apple owed back taxes to Ireland, which weighed heavily on GAAP net income, pulling it down to $14.74 billion from $22.96 billion in the year-ago period. Beneath that noise, the underlying business showed broad momentum, with iPhone revenue rising to $46.22 billion and Services reaching $24.97 billion, up from $22.31 billion a year earlier, demonstrating the durability of its recurring revenue model. Analysts have noted that while Apple's ecosystem moat remains intact, the pace of AI-driven iPhone upgrades may temper near-term growth expectations, even as the company enters the holiday quarter with its Apple Intelligence rollout underway.

Key Takeaways
  • iPhone revenue growth driven by iPhone 16 lineup launch
  • Services revenue reached new all-time high at $24.97 billion
  • Active installed base reached new all-time high across all products and all geographic segments
  • 6% year-over-year revenue growth
  • Gross margin expansion driven by favorable product mix and services growth

“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.”

Apple CEO, on the earnings call

AAPL YoY Financials

Q4 2024 vs Q4 2023 · SEC filings Q4 2023 Q4 2024
$0$30.0B$60.0B$90.0B$89.5B$94.9BRevenue$40.4B$43.9BGross Profit$27.0B$29.6BOperating Income$23.0B$14.7BNet Income
$0$30.0B$60.0B$90.0BRevenueGross ProfitOperating IncomeNet Income

AAPL Revenue by Segment

iPhone$46.2B
Services$25.0B
Wearables, Home and Accessories$9.0B
Mac$7.7B
iPad$7.0B

AAPL Revenue by Geography

Americas$41.7B
Europe$24.9B
Greater China$15.0B
Rest of Asia Pacific
Rest of World$7.4B
Japan$5.9B
Asia Pacific

Figures from SEC filings and company reports. Not investment advice.