Apple reports $85.8 billion in revenue for its fiscal year third quarter 2024 period

Apple revealed solid financial results for its latest report, this time for the fiscal year third quarter of 2024 which ended on June 29, 2024. Apple's press release stated that it brought in $85.8 billion in revenue during the quarter, which is up 5 percent from the same period a year ago when it recorded revenues of $81,8 billion. Apple had a net income amount of $21.4 billion for the quarter, compared to $19.9 billion from the same period a year ago.

iPhone sales for the quarter were $39.2 billion compared to a slightly higher $39.6 billion from the same period a year ago. Mac sales came in at $7 billion for the quarter, slightly up from $6.8 billion from a year ago. iPad sales were recorded at $7.2 billion for the quarter, much higher than revenues of $5.8 billion from a year ago.

The Wearables, Home, and Accessories section, which includes the Apple Watch and (presumably) the Apple Vision Pro headset, came in at $8.1 billion for the quarter, down from $8.3 billion from the same period a year ago. Apple's Services division, which includes Apple Music, Apple TV Plus, and more, had revenues of $24.2 billion, which is much higher than the revenues of $21.2 billion from the same period a year ago.

Apple CEO Tim Cook was quoted in the press release as saying:

During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence, a breakthrough personal intelligence system that 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 the innovations that will enrich our customers’ lives, while leading with the values that drive our work.

Apple's next major hardware release will likely be the iPhone 16 family of smartphones. That's expected to happen sometime in September, along with the official release of iOS 18.

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