Apple Reports 4Q 2024 Results: $14.7B Profit on $94.9B Revenue

Apple today announced financial results for the fourth fiscal quarter of 2024, which corresponds to the third calendar quarter of the year.

aapl 4q 2024 line chart
For the quarter, Apple posted revenue of $94.9 billion and net quarterly profit of $14.7 billion, or $0.97 per diluted share, compared to revenue of $89.5 billion and net quarterly profit of $23.0 billion, or $1.46 per diluted share, in the year-ago quarter.

While revenue was up 6 percent year-over-year, Apple's profits were hit hard by a one-time charge of $10.2 billion over tax issues in the European Union. Without that one-time charge, Apple's profits would have been $1.64 per share, up 12 percent year-over-year.

Gross margin for the quarter was 46.2 percent, compared to 45.2 percent in the year-ago quarter. Apple also declared a quarterly dividend payment of $0.25 per share, payable on November 14 to shareholders of record as of November 11.

For the full fiscal year, Apple recorded $391.0 billion in sales and $93.7 billion in net income, compared to $383.3 billion in sales and $97.0 billion in net income for fiscal 2023.

"Today Apple is reporting a new September quarter revenue record of $94.9 billion, up 6 percent from a year ago," said Tim Cook, Apple's CEO. "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."

As has been the case for over four years now, Apple is once again not issuing guidance for the current quarter ending in December.

aapl 4q 2024 pie chart
Apple will provide live streaming of its fiscal Q4 2024 financial results conference call at 2:00 pm Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Conference call starts at 2:00 p.m. Pacific - No need to refresh loading

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Top Rated Comments

BelgianChoklit Avatar
4 hours ago at 01:43 pm
3/4 of the profit coming from what they make on storage and ram upgrades on the iPhone, iPad and Mac.
Score: 9 Votes (Like | Disagree)
mdriftmeyer Avatar
4 hours ago at 01:49 pm

iPhone STILL keeping the business afloat, and it’s the only product no that I do and will continue to buy refurbished and not from Apple.
Office still keeping Microsoft afloat, and I haven't used it since 1996.
Score: 7 Votes (Like | Disagree)
ShivneelSingh Avatar
4 hours ago at 01:43 pm
The "Services" rate is getting ridiculous.
Score: 6 Votes (Like | Disagree)
sw1tcher Avatar
4 hours ago at 01:49 pm
* EPS: $1.64, adjusted, versus $1.60 estimate
* Revenue: $94.93 billion vs. $94.58 billion estimate
* iPhone revenue: $46.22 billion vs. $45.47 billion estimate
* Mac revenue: $7.74 billion vs. $7.82 billion estimate
* iPad revenue: $6.95 billion vs. $7.09 billion estimate
* Wearables, Home and Accessories revenue: $9.04 billion vs. $9.21 billion estimate
* Services revenue: $24.97 billion vs. $25.28 billion estimate
* Gross margin: 46.2% vs. 46.0% estimate


Expecting Mac sales to improve now that all Macs start with 16GB memory minimum


Sales up in every region for the quarter and the full fiscal year except for China



Attachment Image
Score: 6 Votes (Like | Disagree)
JPack Avatar
4 hours ago at 01:55 pm

Expecting Mac sales to improve now that all Macs start with 16GB memory minimum
Should lower ASP. Doubt consumers are running out getting new Macs because it now comes with 16GB. Any improvement to sales will be because of AI or M4.
Score: 4 Votes (Like | Disagree)
F23 Avatar
4 hours ago at 01:58 pm
Nice work Timmy!
Score: 3 Votes (Like | Disagree)