Apple announced its fiscal second quarter 2024 earnings results with some interesting details regarding its stock values and services division
Those from Cupertino announced earnings results belonging to the second fiscal quarter of 2024 with some interesting observations. In the quarter, 90.75 billion dollars in revenue were obtainedwhich means a drop of 4.31% compared to the same period of the previous year. In terms of benefits, 23.64 billion dollars were reported, a slightly lower figure compared to the same period last year with a difference of 2.15%. Revenue from Mac and services reported year-on-year increases, unlike iPhones, iPads, and the home, accessories, and watches category.
A stable fiscal quarter although with some drops in iPhone, iPad and other products
Apple highlights that last year they reported revenues of 94.8 billion in the same quarter, pointing out that 5 billion dollars are the source of demand pending limitations by factories due to covid. It can be said that this period of 2024 is stable considering that the year is “beginning” and therefore there are no important launches regarding its most common 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 nowhere near knowing which countries it will reach in the next WWDC 2024. Regarding these income, the individual amount was not reported but instead They entered the home and accessories category with $7.91 billion. The year-on-year drop was 9.7%.
The Iphonewhich is Apple’s flagship device, reported revenues of $45.96 billionthe year-on-year drop was 10.46%. The iPad also fell 16.64% year-on-year with revenue of $5.56 billion. It is noteworthy that services were the second to register the highest revenues with 23.87 billion dollars. The year-on-year increase was 14.2%.
Statements from Apple’s CEO and CFO
Tim CookCEO of Apple, He was delighted with the launch of Apple Vision Pro and “the potential that spatial computing unlocks.” At the same time, he reported the historical record in revenue from services. He highlighted next week’s “exciting product announcement” and WWDC taking place in June.
As always, we focus on offering the best products and services to our customers, respecting the fundamental values that drive us.
Apple’s CFOLuca Maestri, highlighted that the Shareholders’ Meeting authorized an additional 110 billion dollars for the repurchase of shares. It indicates that it increased the quarterly dividend for the twelfth consecutive year, remember that in this quarter the profit per share was 1 dollar and 53 cents.
Highlighted 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 geographic segments. Those from Cupertino remain firm and confident that next quarter they will once again give good news to their shareholders and that they are more ready than ever to continue with the development and launches of future products. For comparison purposes, here are the results reported in the first fiscal quarter of 2024.