As a dedicated Apple enthusiast with a lifelong passion for technology, I must say that the latest financial report from Apple has left me more than just impressed. The services business breaking its own record with $24.97 billion is a testament to the company’s relentless pursuit of innovation and customer satisfaction.
In Apple’s final quarter, their service sector generated a record-breaking income of $24.97 billion, marking a new peak for the company.
The earnings derived from services, encompassing the App Store, Apple Pay, and Apple Card; subscriptions like Apple TV+, Apple Music, and iCloud, along with advertising, have increased compared to last year’s figure of $22.3 billion. However, these figures fell short of predictions made by financial analysts on Wall Street.
In summary, Apple surpassed analyst predictions by reporting a quarterly income of approximately $94.9 billion, representing a 6% increase year-on-year. The company’s adjusted earnings per share were $1.64, this figure was adjusted to exclude a one-time charge from the fourth quarter of 2024 due to the reversal of the European General Court’s State Aid decision, which mandates Apple to pay Ireland €13 billion in outstanding taxes. Wall Street anticipated earnings per share of $1.60 and revenue of $94.58 billion.
Apple’s CEO, Tim Cook, announced today that the company has achieved a new revenue record for the September quarter at $94.9 billion, marking a 6% increase from last year. This impressive growth was fueled by the launch of our best products to date: the iPhone 16 series, Apple Watch Series 10, AirPods 4, and innovative advancements in hearing health and sleep apnea detection. Additionally, we unveiled our first set of features for Apple Intelligence this week, a breakthrough in privacy-focused AI technology that promises to further enhance our product offerings as we approach the holiday season.
During the September quarter, our exceptional performance in the record books boosted approximately $27 billion in operational cash flow. This significant amount enabled us to return more than $29 billion back to our shareholders,” stated Luca Maestri, Apple’s Chief Financial Officer. “We are thrilled that our base of active devices has reached a new peak across all product lines and regions, largely due to the high levels of contentment and loyalty among our customers.
More to come.
Read More
Sorry. No data so far.
2024-10-31 23:54