Apple reports record Q4 2024 earnings with nearly $95 billion in revenue

Apple has released its earnings report for fiscal Q4 2024. The company reports $94.93 billion in revenue during the three-month period, up 6% year-over-year. This sets a new September quarter revenue record. For comparison’s sake, Apple reported $89.5 billion in revenue in the same quarter last year.

There is, however, a $10 billion wrinkle to Apple’s earnings this quarter…

AAPL Q4 2024 earnings

Apple’s earnings this quarter include a one-time income tax charge after it was ordered to pay €13B in back tax to the Irish government. That number equates to $10.2 billion. With that factored in, Apple reported net income of $14.74 billion for the quarter.

Apple reported $0.97 earnings per share for Q4 2024, but when excluding that one-time charge, earnings per share was $1.64.

Apple doesn’t report unit sales for its products, but instead reports a breakdown of revenue by product category. Here is the full breakdown of the most important numbers:

• Total revenue: $94.93 billion (up 6% year-over-year)
• iPhone: $46.22 billion (up 5.5% year-over-year)
• Mac: $7.74 billion (up 1.71% year-over-year)
• iPad: $6.95 billion (up 7.87% year-over-year)
• Wearables, Home, and Accessories: $9.04 billion (down 3% year-over-year)
• Services: $24.97 billion (up 11.91% year-over-year)

Going into the quarter, analysts anticipated $94.59 billion in revenue with earnings-per-share of $1.48.

Apple CEO Tim Cook touted Apple’s performance in Q4 2024 along with the introduction of the iPhone 16 and other new hardware:

“Today Apple is reporting a new September quarter revenue record of $94.9 billion, up 6 percent from a year ago. During the quarter, we were excited to announce our best products yet, with the all-new iPhone 16 lineup, Apple Watch Series 10, AirPods 4, and remarkable features for hearing health and sleep apnea detection. And this week, we released our first set of features for Apple Intelligence, which sets a new standard for privacy in AI and supercharges our lineup heading into the holiday season.”

Apple CFO Luca Maestri added:

“Our record business performance during the September quarter drove nearly $27 billion in operating cash flow, allowing us to return over $29 billion to our shareholders. We are very pleased that our active installed base of devices reached a new all-time high across all products and all geographic segments, thanks to our high levels of customer satisfaction and loyalty.”

Apple’s fiscal fourth quarter began on June 30 and came to a close on September 28. The iPhone 16 went up for pre-order on September 13 along with the Apple Watch Series 10. As usual, fiscal Q4 can provide an early look at the performance of a new iPhone model, but the numbers don’t paint a full picture.

You can read Apple’s full earnings release in this post on Apple Newsroom. Stay tuned to 9to5Mac for more coverage from the AAPL earnings call with Tim Cook and Luca Maestri next. You can also listen live via the company’s Investor Relations website at 2:00 pm PT/5:00 pm ET.

As always, I also encourage you to visit our friends at Six Colors, who have compiled some beautiful charts breaking down Apple’s fiscal fourth quarter results.

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