Tag: iPhone revenue

  • Apple Q3 2024 Revenue Surpasses Expectations

    Apple Q3 2024 Revenue Surpasses Expectations

    Apple recently revealed its financial outcomes for the third fiscal quarter of the year. The company reported a revenue of $85.8 billion, surpassing the anticipated $84.46 billion.

    Strong Performance Across Devices

    iPhone sales contributed $39.30 billion to the revenue, slightly exceeding the forecasted $38.95 billion. Similarly, revenue from Mac and iPad devices reached $7.01 billion and $7.16 billion, respectively, both outperforming the expected $6.98 billion and $6.63 billion.

    Revenue from wearables, home products, and accessories amounted to $8.10 billion, once again exceeding the anticipated $7.79 billion. Additionally, services generated $24.21 billion in revenue, compared to the expected $23.96 billion. The earnings per share stood at $1.40, higher than the expected $1.35.

    Record-Breaking Quarter

    Apple achieved new milestones in both revenue and earnings per share this quarter, with the Services sector hitting an all-time high in revenue. The substantial increase in iPad revenue is attributed to the recent launch of the new iPad Pro and iPad Air models.

    The gross margin for the quarter was 46.3%, up from 44.5% in the same period last year. Apple also declared a quarterly dividend of $0.25 per share, which will be paid on August 15 to shareholders of record as of August 12. “Today, Apple reported a new June quarter record of $85.8 billion in revenue, up 5% from a year ago,” stated Apple CEO Tim Cook, who also highlighted the new additions to iOS announced at the Worldwide Developers Conference.

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  • Record-breaking iPhone revenue achieved by Apple in the US and India

    Record-breaking iPhone revenue achieved by Apple in the US and India

    Apple has emerged as the leader in phone shipments, surpassing Samsung for the first time in history. This is a significant shift in the iPhone sales landscape. Samsung has long been the top phone shipper, thanks to its extensive experience in the smartphone market and its ability to manufacture phones across various budget ranges. On the other hand, Apple has consistently used high-quality materials and has not compromised on offering the latest processor technology, even in its budget-friendly “iPhone SE” series. This approach has resonated well with smartphone owners.

    Apple’s Success in the US and India

    Despite a 4% decline in global annual phone sales, Apple’s rise to the top has been uninterrupted. The company has now claimed the number one spot for smartphones sold in a year. According to Jeff Fieldhack, the research director at Counterpoint, “Apple displaced Samsung as the biggest player in shipments for the first time in a full year. While the US made the biggest volume contribution to Apple’s growth, it also received a major boost through double-digit growth in emerging markets including India, Caribbean and Latin America (CALA), and Middle East and Africa (MEA). This growth offset any challenges Apple may have faced in China due to the resurgence of Huawei. With an accompanying ASP growth of 2%, it can be seen to be in a revenue super cycle, buoyed by its ecosystem stickiness coupled with the premiumization trend, crossing an annual revenue of $200 billion.”

    Apple’s Dominance and Challenges

    Apple’s strong market share in phone sales is primarily driven by its success in the US and India. However, the company faces challenges in China, where Huawei has made a remarkable comeback. Apple’s position in China remains weak, and it may face tough competition from other Chinese OEMs.

    The surge in Apple’s sales could be attributed to the increasing desire among users to own premium devices over time. Statistics also confirm a decline in both the shipments and sales rates of Samsung’s low-end devices. Apple’s annual revenue reached $203 billion in 2023, setting a new record.

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