Nov 01, 2024 12:20:00

Apple reports record revenue in fourth quarter 2024, with revenue in Japan increasing 7.6%, iPhone, iPad, Mac and services revenue increasing but wearables, home and accessories revenue decreasing

Apple has announced its financial results for the fourth quarter (July to September) of 2024. This quarter covers the period up to September 28, 2024, and revenue increased 6% year-over-year to $94.9 billion (approximately 14.4 trillion yen), setting a new record.

Apple reports fourth quarter results - Apple
https://www.apple.com/newsroom/2024/10/apple-reports-fourth-quarter-results/

In the fourth quarter of 2024, Apple began selling the iPhone 16, Apple Watch Series 10, AirPods 4, and more. iPhone sales increased 5.5% year-on-year to $46.2 billion (approximately 7 trillion yen), indicating that sales of the iPhone 16 are strong. The iPhone still accounts for about half of Apple's revenue and is Apple's most important product.

As for other products, iPad sales increased 7.9% year over year to $6.95 billion, and Mac sales increased 1.7% to $7.74 billion, while wearable and home accessory sales were $9.04 billion, down 3% year over year.

In addition, revenue from services such as the App Store, Apple TV+, and Apple Music increased 12% year-over-year to $25 billion (about 3.8 trillion yen), the highest amount ever for the services sector.

Revenues split by region are as follows:

	Revenue (dollars)	Revenue (yen equivalent)	Year-on-year change
united states of america	$41.7 billion	Approximately 6.35 trillion yen	3.9% increase
Europe	$24.9 billion	Approximately 3.79 trillion yen	11% increase
China, Taiwan, Hong Kong	$15 billion	Approximately 2.28 trillion yen	0.3% decrease
Japan	$5.9 billion	Approximately 898 billion yen	7.6% increase
others	$7.4 billion	Approximately 1.13 trillion yen	17% increase

While revenue hit a record high, profits fell 36% year-on-year to $14.7 billion (approximately 2.2 trillion yen). This was due to a $10.2 billion income tax liability resulting from the EU back taxes. Without this tax liability, profits would have increased 8.6% year-on-year.

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'Our record financial results generated $27 billion in increased operating cash flow and enabled us to return more than $29 billion to shareholders through share repurchases and dividends,' Apple CFO Luca Maestri said in a statement. 'We grew our active installed base of devices across all product and geographic segments.'

Apple has also decided to pay a dividend of $0.25 per share, payable on November 14, 2024 to shareholders of record as of the close of business on November 11, 2024.