Apple Reports Strong Q4 2024 Results, iPhone Sales Drive Growth

Apple has announced its financial results for the fourth quarter of 2024, reporting revenue of $94.93 billion, surpassing Wall Street expectations. This represents a notable increase from the $89.5 billion generated in the same quarter of the previous year.

The iPhone continued to be the driving force behind Apple’s growth, with revenue reaching $46.22 billion, a 5.5% increase year-over-year. The iPad segment also performed well, generating $6.95 billion in revenue, up 7.9% from the previous year. Mac sales increased by 1.7% to $7.74 billion.

Apple’s Services segment, which includes Apple Music, Apple TV+, and Apple Arcade, continued its upward trajectory, generating $24.7 billion in revenue, an 11.9% increase year-over-year.

While the Wearables, Home, and Accessories segment experienced a slight decline of 3%, falling to $9.04 billion, it remains a significant contributor to Apple’s overall revenue.

Apple’s recent product launches, including the iPhone 16 series, AirPods Max with USB-C, Apple Watch Series 10, and the new black Apple Watch Ultra 2, are expected to further boost the company’s performance in the coming quarters.

For the full fiscal year 2024, Apple generated $391 billion in revenue and $180.7 billion in gross margin, representing significant growth compared to the previous year.

As Apple continues to innovate and expand its product offerings, it is well-positioned to maintain its strong financial performance and solidify its position as a leading technology company.