The final quarter of Apple’s fiscal year is one that nets positive growth for the company, and with its recently announced Q4 2024 results, history has repeated itself because not only has the technology giant posted a revenue of a whopping $94.93 billion, it has beaten Wall Street expectations of $94.58 thanks to increased iPhone sales. Out of all the categories belonging to Apple, only one of them posted a lower revenue compared to the previous quarter, which we will discuss below.
From the $94.93 billion revenue, Apple pocketed a lower profit as it had to pay an amount of $10.2 billion to the EU; Wearables was the only category to take a hit
The iPhone category brought it $46.22 billion making it higher than the $45.96 billion generated during Apple’s Q3 2024 earnings, with the latest figure making up 48.7 percent of the total revenue. This number is 5.5 percent higher than the $43.8 billion Apple posted during the same quarter last year, hinting that iPhone 16 sales could be slightly higher compared to the iPhone 15 family.
As for the iPad, the Cupertino firm saw its tablet range bring in $6.95 billion in revenue, which is slightly lower than the $7.16 billion made in the previous quarter. Thankfully, it is higher than the $6.43 billion revenue recorded in Q4 2023. The Mac lineup was also successfully compared to the same period last year, posting $7.74 billion this quarter, resulting in a 1.7 percent annual improvement. It also looks like the latest M4, M4 Pro, and M4 Max launches will boost revenue for this category, but the results will be reflected in the next quarter.
Services continues to be a reliable division for Apple, as it generated $24.7 billion for Q4 2024, making it just a fraction higher than the $24.21 billion it made in Q3. As for Wearables, Home, and Accessories, it was Apple’s only segment that posted a lower revenue compared to the 2023 quarter, making $9.04 billion this period compared to the last, which brought in $9.32 billion. More disappointing news from the company was that it posted a lower profit of $14.73 billion as it had to pay off $10.2 billion to the EU to settle a tax issue, meaning that its net earnings dropped an eye-watering 31.1 percent.
