Strong iPhone Sales and Growing Services Drive Success
Apple has announced record revenue for the 2024 holiday quarter, reaching $124.3 billion USD. This marks a 4% increase compared to last year, with earnings per share rising 10% to $2.40 USD.
iPhone Sales Lead the Way
The launch of the iPhone 16 series played a key role, generating $69.1 billion USD in sales. While slightly lower than last year’s $69.7 billion USD, Apple CEO Tim Cook emphasized that more people upgraded to the latest iPhone than ever before.
“We’ve never seen a higher level of upgraders before. The iPhone 16 outperformed the iPhone 15, proving there are compelling reasons to upgrade,” said Cook.
Other Product and Service Growth
- Mac sales: Increased from $7.8 billion USD to $9 billion USD
- iPad sales: Grew from $7 billion USD to $8.7 billion USD
- Home & accessories: Slight decline from $12 billion USD to $11.7 billion USD
- Services (Apple TV+, warranties, etc.): Rose to $26.3 billion USD
Looking Ahead
In a letter to investors, Cook called it Apple’s best quarter ever and highlighted the company’s focus on Apple Intelligence, a new AI-powered experience coming in April in multiple languages.
With record sales and growing AI advancements, Apple is set for another strong year in 2025.
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