Apple announced its second quarter 2024 financial results with some interesting details regarding its securities and services division
Those from Cupertino announced their results for the second fiscal quarter of 2024 with some interesting observations. During the quarter, $90.75 billion in revenue was obtainedwhich represents a decrease of 4.31% compared to the same period of the previous year. In terms of profits, $23.64 billion was reported, a slightly lower figure compared to the same period last year with a difference of 2.15%. Mac and services revenue increased year over year, while iPhones, iPads and the home, accessories and watches category did not.
A stable fiscal quarter despite some declines on iPhone, iPad and other products
Apple points out that last year they reported revenue of 94.8 billion in the same quarter, highlighting that 5 billion is driving demand while waiting for factory limitations due to covid. We can say that this period of 2024 is stable given that the year “begins” and therefore there are no important launches regarding its most common products.
Apple Vision Pro versus all Apple products
If we talk about news, This quarter is the first that already includes Apple Vision Pro purchases. Although it is a limited product, we are far from knowing which countries it will reach during the next WWDC 2024. Regarding these revenues, the individual amount has not been indicated but rather They entered the home and accessories category with $7.91 billion. The year-on-year decline was 9.7%
The Iphonewhich is Apple’s flagship device, reported revenue of $45.96 billionthe year-on-year decline was 10.46%. The iPad also fell 16.64% year-over-year with revenue of $5.56 billion.. It is to highlight that services were the second highest revenue earners at $23.87 billion. The year-on-year increase was 14.2%.
Statements from Apple CEO and CFO
Tim CookCEO of Apple, He was excited about the launch of Apple Vision Pro and “the potential unlocked by spatial computing”. At the same time, he reported an all-time high in revenue from services. He highlighted next week’s “exciting product announcement” and WWDC in June.
Apple logo from the May 7 event
As always, we strive to offer the best products and services to our customers, while respecting the fundamental values that drive us.
The CFO of AppleLuca Maestri, pointed out that the General Meeting of Shareholders authorized an additional $110 billion for share repurchase. It indicates that it has increased the quarterly dividend for the twelfth consecutive year, remember that in this quarter the earnings per share were 1 dollar and 53 cents.
Demonstrating very high levels of customer satisfaction and loyalty, derived from an “active installed base of devices” that reached a new all-time high across all products and geographies. Those of Cupertino remain firm and confident that next quarter they will again give good news to their shareholders and that they are more ready than ever to continue the development and launches of future products. For comparison purposes, here are the results reported for the first fiscal quarter of 2024.
