Apple on Thursday introduced its second quarter 2024 earnings, posting income of $90.8 billion for the quarter, a 4 p.c decline yr over yr, and quarterly earnings per diluted share of $1.53, which is one cent greater than final yr. The corporate reported $23.6 billion in revenue.
Apple beat the analysts’ predicted income of $90 billion and earnings per diluted share of $1.50.
iPhone gross sales, which often buoy Apple’s outcomes, took successful this quarter, posting $46 billion in income, which is a ten p.c lower from the second quarter of 2023. Wearables, Residence, and Equipment income was additionally down 10 p.c. iPad gross sales had been additionally down 17 p.c.
Apple’s Providers set a document for the quarter and noticed a soar in income YoY of 14 p.c, whereas Mac gross sales elevated about 4 p.c.
“Through the quarter, we had been thrilled to launch Apple Imaginative and prescient Professional and to point out the world the potential that spatial computing unlocks,” mentioned Apple CEO Tim Cook dinner in a press launch. “We’re additionally wanting ahead to an thrilling product announcement subsequent week and an unimaginable Worldwide Builders Convention subsequent month. As all the time, we’re centered on offering the easiest services for our clients, and doing so whereas dwelling as much as the core values that drive us.”
How the quarter ended YoY for Apple:
- iPhone: $46 billion (down from $51.3 billion)
- iPad: $5.6 billion (down from $6.7 billion)
- Mac: $7.5 billion (up from $7.2 billion)
- Wearables: $7.9 billion (down from $8.7 billion)
- Providers: $23.9 billion (up from $20.9 billion)
Apple had income challenges in Larger China, Japan, and Asia Pacific, the place income was down from these areas a complete of 11 p.c YoY.
Apple declared a money dividend of $0.25 per share of widespread inventory payable on Could 16, 2024, to shareholders of document on the shut of enterprise on Could 13, 2024. Apple additionally licensed a further program to repurchase as much as $110 billion of widespread inventory.
Apple didn’t problem steerage for the third quarter of 2024, which ends this June. The corporate did say it expects double-digit development in iPad and Providers income, and low single-digit development in whole.
Apple is holding its “Let Unfastened” occasion on Could 7 and is anticipated to disclose new iPad fashions and equipment. Study how one can watch the “Let Unfastened” occasion.
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