Apple today announced its fiscal third quarter 2024 (calendar second quarter) revenue results. The Company posted quarterly revenue of $85.8 billion and a net quarterly profit of $21.4 billion, or $1.40 per diluted share, compared to revenue of $81.8 billion and a net quarterly profit of $19.9 billion, or $1.26 per diluted share, in the year-ago quarter.
The gross margin for the quarter was 46.3%, compared to 44.5% in the year-ago quarter. Apple’s board of directors also authorized a quarterly dividend payment of $0.25 per share, up from $0.24 per share, payable on August 15 to shareholders of record as of August 12.
Apple set a new record for the June quarter for both revenue and earnings per share. The Cupertino firm’s Services category set an all-time revenue record, while the iPad category also saw an increase in revenue thanks to the debut of new iPad Pro and iPad Air models.
“Today Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 percent from a year ago,” said Tim Cook, Apple’s CEO. “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.”
“During the quarter, our record business performance generated EPS growth of 11 percent and nearly $29 billion in operating cash flow, allowing us to return over $32 billion to shareholders,” said Luca Maestri, Apple’s CFO. “We are also very pleased that our installed base of active devices reached a new all-time high in all geographic segments, thanks to very high levels of customer satisfaction and loyalty.”
As they’ve done for more than four years, Apple is once again not issuing any guidance for the current quarter, which ends in September.