Revenue Performance:
- Q3 2024 revenue was $85.8 billion, up 5% YoY, with product revenue at $61.6 billion and services revenue at $24.2 billion.
- iPhone revenue totaled $39.3 billion, a slight decline of 1% YoY.
- iPad reported a remarkable 24% increase in revenue, reaching $7.2 billion, attributed to the launch of the new iPad Pro and iPad Air models.
Profitability Metrics:
- Gross profit margin stood at 46.3%.
- Operating income was $25.4 billion, with a margin of 29.6%.
- Net income reached $21.4 billion, marking a significant 11% growth in EPS to $1.40.
Balance Sheet Highlights:
- Total assets of $331.6 billion, with $66.7 billion in stockholders' equity.
- Cash and equivalents were $25.6 billion.
- Total debt of $101 billion, resulting in a net cash position of approximately $52 billion.
Cash Flow Dynamics:
- Operating cash flow recorded at $28.9 billion and free cash flow of $26.7 billion, demonstrating strong cash generation capabilities, essential for future investments and shareholder returns.