Apple today announced its fiscal second quarter 2024 (first calendar quarter) revenue results. The Company posted quarterly revenue of $90.8 billion and a net quarterly profit of $23.6 billion, or $1.53 per diluted share, compared to revenue of $94.8 billion and a net quarterly profit of $24.1 billion, or $1.52 per diluted share, in the year-ago quarter.
The gross margin for the quarter was 46.6%, compared to 44.3% in the year-ago quarter. Apple’s board of directors also authorized an additional $110 billion for share repurchases and declared an increased dividend payment of $0.25 per share, up from $0.24 per share. The dividend is payable May 16 to shareholders of record as of May 13.
“Today Apple is reporting revenue of $90.8 billion for the March quarter, including an all-time revenue record in Services,” said Tim Cook, Apple’s CEO. “During the quarter, we were thrilled to launch Apple Vision Pro and to show the world the potential that spatial computing unlocks. We’re also looking forward to an exciting product announcement next week and an incredible Worldwide Developers Conference next month. As always, we are focused on providing the very best products and services for our customers, and doing so while living up to the core values that drive us.”
“Thanks to very high levels of customer satisfaction and loyalty, our active installed base of devices has reached a new all-time high across all products and all geographic segments, and our business performance drove a new EPS record for the March quarter,” said Luca Maestri, Apple’s CFO. “Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $110 billion for share repurchases. We are also raising our quarterly dividend for the twelfth year in a row.”
As they’ve done for more than four years, Apple is once again not issuing any guidance for the current quarter, which ends in June.
