This week, Apple reported its best quarter ever for the fourth calendar quarter of 2024. For the quarter, Apple reported revenue of $124.3 billion and a net quarterly profit of $36.3 billion compared to revenue of $119.6 billion and a net quarterly profit of $33.9 billion during the same period a year earlier.
The total revenue increased 4% year-over-year, and earnings per share increased by 10%. The company’s Services, Mac, and iPad revenue figures also increased significantly year-over-year. The gross margin for the quarter was 46.9%, compared to 45.9% during the same quarter a year earlier.
Apple CEO Tim Cook said the company is “thrilled to bring customers our best-ever lineup of products and services during the holiday season. Through the power of Apple silicon, we’re unlocking new possibilities for our users with Apple Intelligence, which makes apps and experiences even better and more personal. And we’re excited that Apple Intelligence will be available in even more languages this April.”
During the earnings call, Cook also said that the company now has over 2.35 billion active iPhones, iPads, Macs, and other Apple devices worldwide. And Apple now has more than 1 billion paid subscriptions across the services platform.
Apple TV+ has also been seeing momentum as the streaming platform has received over 2,500 nominations and won 538 times. And the Mac generated $9 billion in revenue – up 16% year-over-year. iPad revenue was $8.1 billion – which is up 15% year-over-year. Wearables, home, and accessories accounted for $11.7 billion in revenue. Services revenue increased 14% year-over-year to $26.3 billion.
Apple Intelligence also expanded to more locations during the quarter, and the company will be adding language support for French, German, Italian, Portuguese, Spanish, Japanese, Korean, and simplified Chinese. And Cook emphasized that Apple Intelligence has been a breakthrough for privacy and AI via technologies like private cloud computing.
