Collection of Financial News Articles - Apple Inc. Q4 2024 Earnings

ARTICLE 1
Source: Reuters
Date: October 31, 2024, 4:05 PM EST
Title: Apple Reports Better-Than-Expected Q4 Results

Apple Inc. (NASDAQ: AAPL) reported fourth-quarter earnings that exceeded Wall Street expectations on Thursday, with revenue reaching $89.5 billion and earnings per share of $1.56.

The iPhone maker's revenue grew 12% year-over-year, beating analyst estimates of $87.2 billion. Net income rose to $25.3 billion, up 14.5% from the same period last year.

"We are pleased with our strong Q4 results, which reflect the power of our innovation and the strength of our ecosystem," said CEO Tim Cook in a statement.

The company's Services segment hit a new all-time high of $22.3 billion, growing 16% year-over-year. Mac revenue surged 25% to $9.7 billion, driven by strong demand for M3-powered devices.

Shares rose 3.2% in after-hours trading following the announcement.

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ARTICLE 2
Source: Bloomberg
Date: October 31, 2024, 4:12 PM EST
Title: Apple Shares Jump as Quarterly Profit Beats Estimates

Apple Inc. shares climbed in extended trading after the tech giant reported quarterly results that surpassed analyst projections, with earnings per share of $1.56 compared to expectations of $1.52.

The Cupertino-based company posted revenue of $89.5 billion for its fiscal fourth quarter ended September 28, representing 12% growth compared to the year-ago period. Net profit reached $25.3 billion, up from $22.1 billion a year earlier.

CFO Luca Maestri highlighted the company's "outstanding financial performance" with double-digit revenue and EPS growth. The Services business reached a new record of $22.3 billion, while iPhone revenue totaled $43.2 billion.

Apple's gross margin improved to 46.2% from 45.2% in Q4 2023, while operating margin expanded to 32.5% from 31.4%.

The company generated $28.5 billion in operating cash flow and returned $29.7 billion to shareholders through dividends and buybacks during the quarter.

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ARTICLE 3
Source: CNBC
Date: October 31, 2024, 4:18 PM EST
Title: Apple Beats on Top and Bottom Line, Services Hit Record High

Apple reported fiscal fourth-quarter earnings Thursday that topped Wall Street's expectations, sending shares higher in after-hours trading.

Key numbers:
- EPS: $1.56 vs. $1.52 expected
- Revenue: $89.5 billion vs. $87.2 billion expected
- iPhone revenue: $43.2 billion, up 8% YoY
- Services revenue: $22.3 billion, up 16% YoY (new record)
- Mac revenue: $9.7 billion, up 25% YoY

CEO Tim Cook told analysts that the company saw "excellent momentum" across all geographic segments and product categories. Services revenue set an all-time record, growing 16% to reach $22.3 billion.

The Greater China segment, which has been a concern for investors, grew 8% year-over-year to $15.1 billion, better than feared.

Apple's board approved a cash dividend of $0.25 per share, payable on November 14 to shareholders of record on November 11.

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ARTICLE 4
Source: The Wall Street Journal
Date: October 31, 2024, 4:25 PM EST
Title: Apple's Profit Rises 14.5% on Strong iPhone, Services Growth

Apple Inc.'s fiscal fourth-quarter profit climbed 14.5% as the company benefited from robust demand for its latest iPhones and continued growth in its lucrative services business.

The tech giant reported net income of $25.3 billion, or $1.56 a share, up from $22.1 billion, or $1.35 a share, a year earlier. Revenue increased 12% to $89.5 billion.

Analysts surveyed by FactSet had expected earnings of $1.52 a share on revenue of $87.2 billion.

Apple's Services segment, which includes the App Store, Apple Music, iCloud and other offerings, posted revenue of $22.3 billion, marking its strongest quarter ever and representing 16% growth.

The company's flagship iPhone business generated $43.2 billion in sales, up 8% from the previous year. Mac sales surged 25% to $9.7 billion, benefiting from the transition to Apple's custom M3 chips.

Apple returned nearly $30 billion to shareholders during the quarter through share repurchases and dividends, maintaining its commitment to aggressive capital returns.

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ARTICLE 5
Source: Financial Times
Date: October 31, 2024, 4:30 PM EST
Title: Apple Exceeds Forecasts with $89.5bn Quarterly Revenue

Apple has beaten analyst expectations with quarterly revenues of $89.5bn, driven by strong performance across its product lines and a record-breaking services division.

The iPhone maker reported diluted earnings per share of $1.56, surpassing the consensus estimate of $1.52, as net income rose 14.5 per cent year-on-year to $25.3bn.

Services revenue reached an all-time high of $22.3bn, growing 16 per cent compared with the same quarter last year. The division, which includes digital content, cloud services, and payment systems, continues to be Apple's fastest-growing segment.

Revenue from the Americas totaled $40.1bn, up 14 per cent, while Europe contributed $24.3bn, representing 9 per cent growth. Greater China, despite ongoing macroeconomic challenges, delivered $15.1bn in revenue, an 8 per cent increase.

Apple's operating cash flow reached $28.5bn for the quarter, up 10.5 per cent from Q4 2023, while free cash flow totaled $26.1bn.

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ARTICLE 6
Source: MarketWatch
Date: October 31, 2024, 4:35 PM EST
Title: Apple Stock Rises After Earnings Beat, Services Revenue Hits New Peak

Apple Inc. shares gained in after-hours trading Thursday after the company reported fiscal fourth-quarter results that exceeded expectations and highlighted record Services revenue.

The tech giant earned $1.56 per share on sales of $89.5 billion, compared with the FactSet consensus of $1.52 per share on revenue of $87.2 billion.

Services revenue climbed to an all-time high of $22.3 billion, up 16% from a year ago. iPhone revenue totaled $43.2 billion, representing 8% growth. Mac revenue surged 25% to $9.7 billion on strong demand for M3-chip devices.

"Our Services business reached a new all-time high, and we continue to see excellent momentum in our products across all geographic segments," CEO Tim Cook said in the earnings release.

Apple's gross margin improved to 46.2% from 45.2% in the year-ago quarter. The company generated $28.5 billion in operating cash flow and spent $25.9 billion on share buybacks during the quarter.

For fiscal Q1 2025, Apple expects revenue growth in the low double digits year-over-year, with gross margin between 46% and 47%.

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ARTICLE 7
Source: Seeking Alpha
Date: October 31, 2024, 5:15 PM EST
Title: Apple Crushes Q4 Estimates: Services at All-Time High, China Stabilizes

Apple (NASDAQ:AAPL) delivered stellar Q4 FY2024 results, with revenue of $89.5B (+12% Y/Y) and EPS of $1.56, both comfortably beating consensus estimates.

Key highlights:
• Total revenue: $89.5B vs. est. $87.2B
• EPS: $1.56 vs. est. $1.52
• Services: $22.3B (+16% Y/Y) - new ATH
• iPhone: $43.2B (+8% Y/Y)
• Mac: $9.7B (+25% Y/Y) - M3 chip momentum
• Greater China: $15.1B (+8% Y/Y) - stabilization

Margins expanded significantly:
• Gross margin: 46.2% vs. 45.2% Y/Y (+100 bps)
• Operating margin: 32.5% vs. 31.4% Y/Y (+110 bps)

Capital allocation remained aggressive with $29.7B returned to shareholders ($25.9B buybacks, $3.8B dividends).

Management guided Q1 FY2025 revenue growth in low double-digits with GM 46-47%, OpEx $14.5-14.8B.

The stock is up 3.5% after-hours. This print should alleviate concerns about iPhone demand and China weakness.

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ARTICLE 8
Source: TechCrunch
Date: October 31, 2024, 5:45 PM EST
Title: Apple's Q4 Earnings: Services Revenue Hits Record, Mac Sales Surge

Apple reported impressive fourth-quarter results today, with total revenue hitting $89.5 billion and Services revenue reaching an all-time high of $22.3 billion.

The company's Services segment, which includes the App Store, Apple Music, iCloud, Apple TV+, and other offerings, grew 16% year-over-year. This performance underscores Apple's successful transition toward recurring revenue streams.

Mac sales were particularly strong, jumping 25% to $9.7 billion thanks to robust demand for MacBook Pro and MacBook Air models powered by the company's M3 chips. This represents one of the strongest Mac quarters in recent years.

iPhone revenue of $43.2 billion showed 8% growth, meeting expectations for the company's flagship product line. The Wearables, Home and Accessories category generated $7.9 billion, up 3% from last year.

Apple's operating cash flow reached $28.5 billion, demonstrating the company's continued ability to generate substantial cash. The company spent $25.9 billion on share repurchases during the quarter.

Looking ahead, Apple guided for low double-digit revenue growth in the December quarter, typically the company's strongest period due to holiday shopping.

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ARTICLE 9
Source: Barron's
Date: October 31, 2024, 6:20 PM EST
Title: Why Apple Stock Is Rising After Earnings Beat

Apple shares jumped more than 3% in after-hours trading Thursday after the iPhone maker reported fiscal fourth-quarter earnings that handily beat Wall Street's expectations.

The company posted earnings of $1.56 a share on revenue of $89.5 billion, well above the consensus estimates of $1.52 a share on revenue of $87.2 billion.

Several factors are driving the positive investor response:

1. Services strength: The division hit a new record of $22.3 billion, growing 16% year-over-year and demonstrating the durability of Apple's recurring revenue model.

2. China stabilization: Revenue from Greater China grew 8%, easing concerns about weakness in this critical market.

3. Margin expansion: Gross margin improved 100 basis points to 46.2%, while operating margin expanded to 32.5%.

4. Strong guidance: Management's outlook for low double-digit revenue growth in Q1 FY2025 exceeded conservative investor expectations.

5. Capital returns: The company returned nearly $30 billion to shareholders through buybacks and dividends, reinforcing its commitment to shareholder value.

Analysts at several firms raised their price targets following the report, with some citing the Services performance as particularly encouraging for long-term growth prospects.
