Apple Releases 2024 Q3 Financial Report with Strong Revenue Growth and Updates

TapTechNews August 2nd news, Apple today (August 2nd) released its fiscal 2024 third-quarter (second quarter, ending June 29, 2024) financial report, with total revenue of $85.78 billion, a 5% year-on-year increase; diluted earnings per share was $1.40, a 11% year-on-year increase.

TapTechNews briefly attaches the relevant financial data as follows:

Diluted earnings per share: $1.40, a 11% increase year-on-year.

Revenue: $85.78 billion, an increase of 5% compared to the same period last year ($81.797 billion).

Net profit: $21.448 billion, an increase of 7.9% compared to the same period last year ($19.881 billion).

Apple in Greater China revenue was $14.728 billion, a 6.5% decrease compared to the same period last year ($15.758 billion).

iPhone business revenue: $39.296 billion, a 0.94% decrease compared to the same period last year ($39.669 billion).

Mac business revenue: $7.009 billion, a 2.4% increase compared to the same period last year ($6.84 billion).

iPad business revenue: $7.162 billion, a 23.7% increase compared to the same period last year ($5.791 billion).

Wearables, smart home and related accessory business revenue: $8.097 billion, a 2.3% decrease compared to the same period last year ($8.284 billion).

Service business revenue: $24.213 billion, a 14.1% increase compared to the same period last year ($21.213 billion).

Apple's CEO Tim Cook said in the official financial report:

Apple's second quarter (April-June) revenue reached $85.8 billion, a 5% increase from the same period last year, setting a new historical record.

At the WWDC Worldwide Developers Conference (held in June), we grandly announced major updates in the system, introducing many improvements including AppleIntelligence.

AppleIntelligence is a breakthrough personal intelligent system that places a powerful private generative AI model at the core of iPhones, iPads, and Macs.

We are very much looking forward to sharing these tools with our users, and we will continue to invest heavily in innovation to enrich the lives of our customers while leading the values that drive our work.

Apple's Chief Financial Officer Luca Maestri said:

This quarter, our various businesses once again set records, earnings per share increased by more than 11%, and operating cash flow was nearly $29 billion, allowing us to return more than $32 billion to shareholders.

We are also very pleased to see that thanks to extremely high customer satisfaction and loyalty, the installed base of active devices in all regions has set a historical high.

The Apple board of directors announced a cash dividend of $0.25 per share of the company's common stock. The dividend will be paid to shareholders regist ered as of the close of business on August 12, 2024.