'Apple Intelligence marks the beginning of a new chapter for Apple innovation and redefines privacy and AI by extending our groundbreaking approach to privacy into the cloud.' - Tim Cook, expressing optimism about the future impact of AI on Apple's product ecosystem.
— Tim Cook
03Detailed Report
AAPL
Apple Inc
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 15, 2026
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Executive Summary
In Q4 2024, Apple Inc reported revenue of $94.9 billion, marking a 6% increase from the previous year, driven by strong iPhone and Services performance. The iPhone segment set a new revenue record of $46.2 billion, underscoring Apple's resilient market presence and strategic focus on innovation. The Services segment also experienced significant growth, achieving an all-time record of $25 billion, reflecting increased engagement across Apple's ecosystem. Despite a notable income tax charge of $10.2 billion reducing net income to $14.736 billion, management expressed optimism about future revenue growth aided by new initiatives like Apple Intelligence. Upcoming product launches and strong ecosystem fundamentals position Apple favorably for the holiday season and beyond.
Key Performance Indicators
Revenue
Increasing
94.93B
QoQ: 10.67% | YoY: 6.07%
Gross Profit
Increasing
43.88B
46.22% margin
QoQ: 10.59% | YoY: 8.54%
Operating Income
Increasing
29.59B
QoQ: 16.72% | YoY: 9.72%
Net Income
Decreasing
14.74B
QoQ: -31.29% | YoY: -35.81%
EPS
Decreasing
0.97
QoQ: -30.71% | YoY: -34.01%
Revenue Trend
Margin Analysis
Financial Highlights
- Revenue: $94.9 billion, +6.07% YoY, and +10.67% QoQ.
- Gross Profit: $43.879 billion, +8.54% YoY, +10.59% QoQ.
- Operating Income: $29.591 billion, +9.72% YoY, +16.72% QoQ.
- Net Income: $14.736 billion, -35.81% YoY, -31.29% QoQ after a one-time tax charge.
- EPS: $0.97, -34.01% YoY, -30.71% QoQ.
- Gross Margin: 46.2%, stable, indicative of strong operational efficiency.
- Operating Cash Flow: $26.811 billion, a record for September quarter.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
94.93B
6.07%
10.67%
Gross Profit
43.88B
8.54%
10.59%
Operating Income
29.59B
9.72%
16.72%
Net Income
14.74B
-35.81%
-31.29%
EPS
0.97
-34.01%
-30.71%
Key Financial Ratios
Gross Profit Margin
Good
46.20%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Excellent
31.20%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
Net Profit Margin
Good
15.50%
Net profit margin is healthy and competitive within industry standards
Return on Assets
Fair
4.04%
Return on assets is acceptable but below top-tier companies
Return on Equity
Strong
25.90%
Return on equity demonstrates excellent capital efficiency and value creation
Current Ratio
Concern
0.87
Current ratio below safe levels, potential liquidity risk
Debt to Equity
High Risk
1.87
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
High Growth
58.63x
Very high P/E indicates aggressive growth expectations, higher risk
Price to Book
High Premium
60.69x
Very high premium suggests asset-light business model or lofty expectations
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