Apple Reports 4Q 2024 Results: $14.7B Profit on $94.9B Revenue

Apple today announced financial results for the fourth fiscal quarter of 2024, which corresponds to the third calendar quarter of the year.

For the quarter, Apple posted revenue of $94.9 billion and net quarterly profit of $14.7 billion, or $0.97 per diluted share, compared to revenue of $89.5 billion and net quarterly profit of $23.0 billion, or $1.46 per diluted share, in the year-ago quarter.

While revenue was up 6 percent year-over-year, Apple's profits were hit hard by a one-time charge of $10.2 billion over tax issues in the European Union. Without that one-time charge, Apple's profits would have been $1.64 per share, up 12 percent year-over-year.

Gross margin for the quarter was 46.2 percent, compared to 45.2 percent in the year-ago quarter. Apple also declared a quarterly dividend payment of $0.25 per share, payable on November 14 to shareholders of record as of November 11.

For the full fiscal year, Apple recorded $391.0 billion in sales and $93.7 billion in net income, compared to $383.3 billion in sales and $97.0 billion in net income for fiscal 2023.'Today Apple is reporting a new September quarter revenue record of $94.9 billion, up 6 percent from a year ago,' said Tim Cook, Apple's CEO. 'During the quarter, we were excited to announce our best products yet, with the all-new iPhone 16 lineup, Apple Watch Series 10, AirPods 4, and remarkable features for hearing health and sleep apnea detection. And this week, we released our first set of features for Apple Intelligence, which sets a new standard for privacy in AI and supercharges our lineup heading into the holiday season.'As has been the case for over four years now, Apple is once again not issuing guidance for the current quarter ending in December.

Apple will provide live streaming of its fiscal Q4 2024 financial results conference call at 2:00 pm Pacific, and MacRumors will update this story with coverage of the conference call highlights.

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