Apple's revenue in this quarter reached $94.93 billion, a 6% year-on-year growth, with an adjusted eps of $1.64, both stronger than market expectations; Apple incurred a one-time tax expense of $10.2 billion earlier this year due to a ruling by the European Union, leading to a nearly 36% year-on-year decline in net income for the quarter.
Financial联社 reported on November 1st (Editor Zhao Hao) that after the U.S. stock market closed on Thursday, October 31, Apple released the financial performance of the fourth quarter of the 2024 fiscal year (ending September 28, 2024).
Financial data shows that Apple's revenue in this quarter reached $94.93 billion, a 6% year-on-year growth; with an adjusted eps of $1.64, which are both stronger than the market's expected $94.58 billion and $1.60.
However, Apple incurred a one-time tax expense of $10.2 billion earlier this year due to a ruling by the European Union, leading to a net income of $14.736 billion for the quarter, a nearly 36% year-on-year decline, with a diluted eps of $0.97.
According to the financial report, Apple's greater china revenue for the fourth quarter was $15.033 billion, below analyst expectations of $15.8 billion and slightly lower than the $15.084 billion in the same period last year. In the third quarter, Apple's sales in Greater China decreased by 6.5% year-on-year to $14.7 billion.
Based on business segmentation, Apple's iPhone revenue in this quarter was $46.222 billion, higher than the market's expected $45.47 billion, with a 5.5% year-on-year growth; Mac and iPad sales were $7.744 billion and $6.95 billion, respectively, also showing year-on-year growth but below expectations.
Cook told the media that the sales of the iPhone 15 are expected to be stronger than the previous year's iPhone 14, and the iPhone 16 will be even stronger than the iPhone 15. He also mentioned that the company is very excited about the 'Apple Intelligence' system.
Cook said: "We have received very positive feedback from customers and developers, and we have some early statistics, which is data from the first three days: the adoption rate of iOS 18.1 is twice as fast as that of 17.1 last year."
The revenue of wearable devices, home and accessory products decreased by 3% year-on-year to $9.042 billion; service revenue increased by 12% to $24.972 billion, reaching a new historical high, which is the main driver of the company's revenue growth, but still below the market expectation of $25.28 billion.
Apple also expects revenue growth in the low to mid single digits for the first quarter of fiscal year 2024 (fourth quarter of 2024).