On October 31, 2024, just in time for Halloween, Apple will announce its financial results for the fourth quarter and full year 2024. Like every year, investors and analysts eagerly await the numbers as they provide crucial insight into Apple's financial health and future. In this report, you'll learn everything you need to know about what's happened so far in 2024, the new product releases, and what to expect from the fourth quarter results.
The release of Apple’s quarterly results is always an important Event in the technology industry calendar. It not only provides information about the company's financial situation but also shows how successful Apple's products and services have been in recent months. This year, the announcement is under a special star as it takes place on October 31, Halloween. But instead of scary surprises, we are mainly expecting clear figures and trends that give us an outlook on Apple's future. What is particularly exciting is that this will be the last conference call of long-time CFO Luca Maestri before he hands over his position to Kevan Parekh hands over.
Review of the third and fourth quarters of 2024
The fourth quarter of 2024 covers the months of July to September. Although some important products were launched during this period, they will not have a major impact on the quarterly figures as they were only released in the last month of the quarter. These include the iPhone 16 series, the Apple Watch Series 10, the Apple Watch Ultra 2 in black and new AirPods with USB-C. These products will be particularly significant in the first quarter of 2025, when sales traditionally increase significantly during the Christmas season. Side note: Apple's fiscal year starts on October 1st and ends on September 30th.
Third-quarter products as drivers for the fourth quarter
In contrast, products released in the third quarter, such as the iPad Pro with M4 chip, the iPad Air with M2 and the Apple Pencil Pro, are likely to have a greater impact on the fourth quarter's figures. These products were available throughout the three-month period and could provide a solid foundation for the result. However, the third quarter was relatively quiet in terms of the launch of new Macs. An event is expected to take place in October, but it will be too late to significantly affect the fourth quarter's figures.
previous year's results (Q4 2023)
The results of the fourth quarter of 2023 serve as a basis for comparison for analysts for the current year. In the fourth quarter of 2023, Apple reported revenue of $89.5 billion, a slight decrease of 0.7% from the same quarter last year. Earnings per share were $1.46. Interestingly, despite the overall decline, iPhone sales in the fourth quarter of 2023 increased by 2.8% to 43.8 billion US dollars. The services sector, which is becoming increasingly important for Apple, also recorded strong growth of 16.3%, generating revenue of 22.3 billion US dollars. However, the other business areas weakened. iPad revenue fell by 10.2% to 6.4 billion US dollars, while Mac revenue fell by 33.8% to 7.6 billion US dollars. The Wearables, Home and Accessories segment also recorded a slight decline of 3.4% to 9.3 billion US dollars.
The third quarter of 2024 in detail
In the third quarter of 2024, Apple recorded positive development. Total revenue rose to $85.78 billion, while earnings per share were $1.40. The iPad in particular stood out, with revenue growth of $23.7 billion to $55.6 billion. Macs also increased slightly, growing by $2.5 billion to $7.45 billion. iPhone revenue was $39.3 billion, a slight decrease of $0.9 billion compared to the same quarter last year. The Services division remained a strong growth factor, generating revenue of $23.9 billion in the third quarter, an increase of $14.1 billion.
expectations for the fourth quarter of 2024
Expectations for the fourth quarter of 2024 are mixed. On the one hand, the new products that were only introduced in September will not yet have a full impact on the quarterly figures. On the other hand, sales of the devices released in the third quarter, especially the iPads, could play an important role. Another interesting aspect of the fourth quarter of 2024 is the resignation by Apple's long-time CFO Luca Maestri. The upcoming conference call, which will take place on October 31 at 11 p.m. German time, will be the last one that Maestri leads in this role. Starting in 2025, his successor Kevan Parekh will take over this role.
annual results 2024
The fourth quarter also marks the end of fiscal year 2024. In fiscal year 2023, Apple generated total revenue of $383.3 billion, down slightly by 2.8% from 2022. Gross margin was $169.1 billion, also down by 1% from the previous year. In the first three quarters of fiscal year 2024, Apple has already generated gross revenue of $296.1 billion and gross margin of $136.8 billion. These numbers suggest that Apple continues to deliver stable financial performance despite the challenges the company is facing.
Apple Q4/2024: A look at the financial future
The release of Apple's quarterly results on October 31, 2024 will provide a clear insight into the company's financial position. Although the fourth quarter is unlikely to show the full impact of new products, it provides a solid foundation for the year ahead. The third quarter numbers so far are encouraging and expectations for the holiday season suggest a strong first quarter of 2025. It remains to be seen how Apple, under the new leadership of Kevan Parekh, will adapt its financial strategy to remain successful in the future. (Photo by Zatevakhin / Bigstockphoto)
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