Apple Reports Record Results in the Third Quarter of 2024: Revenue Increases to $85.8 Billion

Apple today announced financial results for its fiscal 2024 third quarter, which ended on June 29, 2024. The company posted quarterly revenue of $85.8 billion, an increase of five percent year over year. Quarterly earnings per diluted share rose eleven percent to $1.40. Tim Cook, Apple's CEO, commented on the results, highlighting that the company set a new revenue record for the June quarter. Cook expressed enthusiasm about the significant updates to the software platforms introduced at the Worldwide Developers Conference, notably "Apple Intelligence," an advanced personal intelligence system that integrates powerful and private generative AI models into the core of iPhone, iPad, and Mac. CFO Luca Maestri added that the company generated nearly $29 billion in operating cash flow, enabling a return of over $32 billion to shareholders. Additionally, the installed base of active devices in all geographic segments reached a new all-time high, attributable to high customer satisfaction and loyalty rates. Apple's Board of Directors has declared a cash dividend of $0.25 per share of the company's common stock, payable on August 15, 2024, to shareholders of record as of the close of business on August 12, 2024. Apple will live stream its Q3 2024 earnings call beginning at 2:00 p.m. PT on August 1, 2024, at apple.com/investor/earnings-call, which will be available for approximately two weeks thereafter. Apple regularly provides information to investors on its corporate website, apple.com, and its investor relations site, investor.apple.com. This includes press releases and other information about the company's financial performance, as well as reports filed with the SEC. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties and actual results may differ materially from those projected. Details on potential risks and factors that could affect the company's business, reputation, financial results, financial condition, and stock price are included in the reports filed with the SEC. Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world with its innovative products, including iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. The company's six software platforms provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+.