Apple Q2 2024 Results

Apple Newsroom:

Apple today announced financial results for its fiscal 2024 second quarter ended March 30, 2024. The Company posted quarterly revenue of $90.8 billion, down 4 percent year over year, and quarterly earnings per diluted share of $1.53.

Net sales year-over-year by product (from Apple’s consolidated statement):

PercentageDollars
iPhone-10%-$5.4B
Mac+4%+$0.3B
iPad-17%-$1.1B
Wearables, etc.-10%-$0.8B
Services+14%+3.0B

And by region:

PercentageDollars
Americas-1%-$0.5B
Europe+1%+$0.2B
Greater China-8%-$1.4B
Japan-13%-$0.9B
Rest of Asia Pacific-17%-$1.4B

Credit where credit is due: IDC’s projection that iPhone sales were down 10 percent year-over-year was spot-on.

And Tim Cook’s decade-ago decision to focus both the company and investors’ attention on Services looks ever more prescient. As it stands, a 4 percent overall drop in revenue makes for an ever-so-slightly bad quarter. If not for Services growth, however, this would’ve been a not-so-slightly bad quarter.

See also: Six Colors’s usual assortment of charts illustrating Apple’s data.

★ Thursday, 2 May 2024