Apple Inc
AAPL
$273.67 0.54%
Exchange: NASDAQ | Sector: Technology | Industry: Consumer Electronics
Q2 2024
Published: May 3, 2024

Earnings Highlights

  • Revenue of $90.75B down 4.3% year-over-year
  • EPS of $1.53 increased by 0% from previous year
  • Gross margin of 46.6%
  • Net income of 23.64B
  • ""We believe in the transformative power and promise of AI...enrich users' lives and lead the world better than we found it." - Tim Cook" - Tim Cook
AAPL
Apple Inc

Executive Summary

In Q2 2024, Apple Inc reported revenues of $90.8 billion, a decline of 4% year-over-year (YoY), highlighting the effects of competitive dynamics in the mobile market and foreign exchange headwinds. Despite a challenging environment, the company achieved an EPS of $1.53, a record for the March quarter, with strong growth in services, which rose 14% YoY to $23.9 billion. The decline in product revenues, particularly in iPhone, underscores the complexities of the current macroeconomic landscape, while the launch of Apple Vision Pro and innovations in generative AI reflect the company's commitment to future growth opportunities. As Apple navigates these challenges, maintaining a focus on its core strengths and addressing emerging market opportunities will be critical for sustained investor confidence.

Key Performance Indicators

Revenue
Decreasing
90.75B
QoQ: -24.10% | YoY: -4.31%
Gross Profit
Increasing
42.27B
46.58% margin
QoQ: -22.94% | YoY: 0.70%
Operating Income
Decreasing
27.90B
QoQ: -30.89% | YoY: -1.48%
Net Income
Decreasing
23.64B
QoQ: -30.31% | YoY: -2.17%
EPS
Stable
1.53
QoQ: -30.14% | YoY: 0.00%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 124,300.00 2.40 +4.0% View
Q4 2024 94,930.00 0.97 +6.1% View
Q3 2024 85,777.00 1.40 +4.9% View
Q2 2024 90,753.00 1.53 -4.3% View
Q1 2024 119,575.00 2.18 +2.1% View