Apple CEO Tim Cook
Apple published financial results for the second quarter of 2024: profit exceeded forecasts, despite China The iPhone is afraid.
After improving results for the first quarter of 2024, Apple reported results for the second quarter. Typically, second quarter numbers are lower than first quarter numbers and high quarterly sales.
These data were published on Tuesday, on the eve of the traditional conference call between analysts and investors. During the call, CEO Tim Cook and CFO Luca Maestri are expected to elaborate on the numbers and comments contained in the reported results.
Apple's second-quarter revenue reached $90.75 billion, up from $94.8 billion reported in the second quarter of 2023. Earnings per share were $1.53, down from $1.52 in the year-ago quarter.
The Wall Street consensus expected Apple to reach a low valuation of $82.32 billion and a high valuation of $86.15 billion, with earnings per share of $1.50.
After the festive quarter, comparatively fewer products were introduced. The Apple Vision Pro was released in February, but it sells in relatively small quantities, at least compared to other Apple product categories.
The MacBook Air line also featured M3 Apple Silicon upgrades.
In the second quarter of 2024, iPhone revenue was $45.96 billion, up from $51.3 billion in the second quarter of 2023. Mac remained relatively flat, from $7.2 billion a year ago to $7.45 billion this time around.
iPad grew from $6.7 billion to $5.56 billion, and sales of wearables, home goods and accessories grew from $8.76 billion in the second quarter of 2023 to $7.9 billion . Services, an ever-growing sector, grew this time from $20.9 billion in the second quarter of 2023 to $23.867 billion.
“This quarter, we were excited to launch Apple Vision Pro and show the world the potential that is being unlocked by spatial computing,” said CEO Tim Cook. “We're also looking forward to an exciting product announcement next week and an incredible Worldwide Developers Conference next month.”
“Driven by very high levels of customer satisfaction and loyalty, our active installed base of devices reached new record levels across all products and geographic segments, and our business performance set a new EPS record for the March quarter,” – Luca Maestri said.
As part of this release, Apple's board of directors also authorized another $110 billion share buyback.
More details on Apple's quarterly results will be released at the time. conversation with analysts.
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