Apple today officially announced its financial results for the first fiscal quarter of 2024, covering the fourth calendar quarter of 2023, spanning October, November, and December.
Apple reported $119.58 billion in revenue with a net profit of $33.9 billion, equal to earnings of $2.18 per diluted share. Compared to the same quarter a year ago, Apple posted $117.2 billion in revenue and $30.0 billion in net profit, equal to earnings of $1.88 per diluted share.
Apple reports a revenue breakdown by product category instead of unit sales. The revenue breakdown per category for fiscal Q1 2024 compared to Q1 2023 is as follows:
- iPhone: $69.70 billion vs. $65.78 billion
- Mac: $7.78 billion vs. $7.74 billion
- iPad: $7.02 billion vs. $9.40 billion
- Wearables, Home and Accessories: $11.95 billion vs. $13.48 billion
- Services: $23.12 billion vs. $20.78 billion
Apple’s board of directors authorized a cash dividend payment of $0.24 per share, payable on February 15 to shareholders of record as of February 12. As usual, Apple is not providing an earnings forecast for the current fiscal Q2 2024.
Today Apple is reporting revenue growth for the December quarter fueled by iPhone sales, and an all-time revenue record in Services. We are pleased to announce that our installed base of active devices has now surpassed 2.2 billion, reaching an all-time high across all products and geographic segments. And as customers begin to experience the incredible Apple Vision Pro tomorrow, we are committed as ever to the pursuit of groundbreaking innovation — in line with our values and on behalf of our customers.
Apple CEO Tim Cook
Our December quarter top-line performance combined with margin expansion drove an all-time record EPS of $2.18, up 16 percent from last year. During the quarter, we generated nearly $40 billion of operating cash flow, and returned almost $27 billion to our shareholders. We are confident in our future, and continue to make significant investments across our business to support our long-term growth plans.
Apple CFO Luca Maestri
