Apple Q3 FY2024 Results

Apple:

The Company posted quarterly revenue of $94.9 billion, up 6 percent year over year, and quarterly diluted earnings per share of $0.97. Diluted earnings per share was $1.64, up 12 percent year over year when excluding the one-time charge recognized during the fourth quarter of 2024 related to the impact of the reversal of the European General Court’s State Aid decision.

Jason Snell (along with his usual assortment of excellent charts illustrating Apple’s results):

The one twist: Apple recognized a one-time charge of $14.8 billion related to Apple finally having lost a long-time tax case in the European Union. That’s a lot of cash — almost exactly half of the quarter’s total income, in fact.

All in all, Apple’s business was relatively flat. iPhone sales were up 6% but flat for the fiscal year; Mac sales were up 2%, which is about how they’ve been all year; Services continues to have reliable double-digit growth, but the rate of growth slowed to 12% year-over-year.

Every product/division did fine.

★ Thursday, 31 October 2024