Apple’s next quarter 2024 findings show return to rise, with Wall Street hit

Apple CEO Tim Cook
Last updated 30 minutes agoApple’s third-quarter financial performance has improved significantly compared to 2023. Sales figures in every area of the company have exceeded Wall Street expectations. Apple has released its Q3 2024 financial results, and they have surpassed expectations by a significant margin. Apple Intelligence and other changes in store for this fall have boosted the figures in what is usually the quietest quarter of the year. The numbers were released ahead of the usual conference with analysts and investors, hosted by CEO Tim Cook. Both are expected to provide more details about the numbers and Apple’s global business. Apple’s third-quarter revenue reached $85.78 billion. This is up from $81.80 billion in Q3 2023, and beat Wall Street expectations of $84 billion. Earnings per share are up from $1.26 a year ago. Apple quarterly revenue and profit In the quarter, iPhone brought $39.3 billion in revenue, down from $39.67 last year but beating Wall Street’s estimate of $38.81 billion. iPad’s $7.16 billion revenue is up from $5.79 Billion a year ago and Wall Street’s $6.61 Billion forecast. Apple’s quarterly iPhone revenueMac revenue increased from $6.84 Billion in Q3 2023, to $7.01 Billion. This is just a little short of Wall Street’s oddly close estimate of $7.02 Billion. Apple’s Q3 2024 unit revenue was down from $8.28bn in the previous quarter to $8.09bn. Services grew to $24.2 billion, up from $21.21 in Q3 2023. This was also higher than Wall Street’s estimate of $24.01 billion. Year-on-year change in revenue and profit. “During the quarter we were excited to announce incredible upgrades to our software platforms at Worldwide Developers Conference. This included Apple Intelligence, an incredible personal intelligence system which puts powerful, private, generative AI models on the core of iPhones, iPads, and Macs,” said Tim Cook. He continued, “We look forward to sharing this technology with our users and we continue to make significant investments in innovations that will enhance our customers’ lives while leading with values that drive our business.” Apple’s Board of Directors has declared a dividend of $0.25 for each share of common stock.