Apple Announces Financial Results for Q3 2024
Apple today announced its financial results for the fiscal 2024 third quarter, which ended on June 29, 2024. The company posted a quarterly revenue of $85.8 billion, marking a 5 percent increase year over year. Additionally, quarterly earnings per diluted share rose to $1.40, which is an 11 percent increase from the previous year.
CEO Tim Cook’s Statement
“Today Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 percent from a year ago,” said Tim Cook, Apple’s CEO. “During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence. This breakthrough personal intelligence system puts powerful, private generative AI models at the core of iPhone, iPad, and Mac. We very much look forward to sharing these tools with our users, and we continue to invest significantly in innovations that will enrich our customers’ lives, while leading with the values that drive our work.”
Financial Performance Highlights
Apple’s Chief Financial Officer, Luca Maestri, also commented on the strong financial performance. “During the quarter, our record business performance generated EPS growth of 11 percent and nearly $29 billion in operating cash flow, allowing us to return over $32 billion to shareholders,” said Maestri. “We are also very pleased that our installed base of active devices reached a new all-time high in all geographic segments, thanks to very high levels of customer satisfaction and loyalty.”
Dividend and Investor Information
Apple’s board of directors has declared a cash dividend of $0.25 per share of the company’s common stock. The dividend is payable on August 15, 2024, to shareholders of record as of the close of business on August 12, 2024. Apple will provide a live streaming of its Q3 2024 financial results conference call beginning at 2:00 p.m. PT on August 1, 2024, at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.
