Third Quarter Results Are In: Apple Shares Performance Highlights

Apple Reports Fiscal Q3 2024 Results with Record Revenue and Earnings Growth

CUPERTINO, Calif.--(BUSINESS WIRE)--Apple® has announced its financial results for the fiscal 2024 third quarter, ending June 29, 2024. The tech giant achieved a remarkable quarterly revenue of $85.8 billion, marking a 5 percent increase compared to the same period last year. Earnings per diluted share reached $1.40, reflecting an 11 percent year-over-year growth.

Tim Cook, Apple’s CEO, expressed enthusiasm about the company's performance: “Today, Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 percent from a year ago. During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence, a breakthrough personal intelligence system that incorporates powerful, private generative AI models at the core of iPhone, iPad, and Mac. We look forward to sharing these tools with our users, and we continue to invest significantly in innovations that will enrich our customers’ lives, while maintaining the values that drive our work.”

Apple's CFO, Luca Maestri, highlighted the company’s robust financial position: “During the quarter, our record business performance generated EPS growth of 11 percent and nearly $29 billion in operating cash flow, allowing us to return over $32 billion to shareholders. We are also very pleased that our installed base of active devices reached an all-time high in all geographic segments, reflecting very high levels of customer satisfaction and loyalty.”

As part of its commitment to returning value to shareholders, Apple’s board of directors declared a cash dividend of $0.25 per share of the Company’s common stock. This dividend is set to be payable on August 15, 2024, to shareholders of record as of the close of business on August 12, 2024.

Apple will host a live streaming conference call to discuss its Q3 2024 financial results, beginning at 2:00 p.m. PT on August 1, 2024, which will be available for replay for approximately two weeks thereafter. LFor ongoing updates, investors can visit Apple’s corporate website and investor relations page, which provides press releases, financial performance reports, and corporate governance information.

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, with actual results potentially differing materially from those expressed or implied. Risks include global economic conditions, competitive market challenges, reliance on third-party suppliers, and various legal and regulatory factors. Further details can be found in Apple’s filings with the SEC.

Since its inception with the Macintosh in 1984, Apple has revolutionized personal technology. Today, it remains a leader in innovation with its suite of products including the iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro, as well as its software platforms and services like the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. With a workforce of over 150,000 employees, Apple is dedicated to creating the best products and improving the world.

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