Q4 24 EPS
$1.64
BEAT +72.63%
Est. $0.95
Q4 24 Revenue
$94.93B
vs S&P Since Q4 24
+1.0%
BEATING MARKET
AAPL +27.2% vs S&P +26.2%
Full Year 2024 Results
FY 24 EPS
$6.75
FY 24 Revenue
$391.04B
Market Reaction
Did AAPL Beat Earnings? Q4 2024 Results
Apple delivered a standout fiscal fourth quarter, with non-GAAP adjusted diluted EPS of $1.64 clearing the $0.95 consensus estimate by 72.63%, as revenue climbed 6.1% year over year to $94.93 billion. The headline earnings figure reflected a delibera… Read more Apple delivered a standout fiscal fourth quarter, with non-GAAP adjusted diluted EPS of $1.64 clearing the $0.95 consensus estimate by 72.63%, as revenue climbed 6.1% year over year to $94.93 billion. The headline earnings figure reflected a deliberate separation from a significant one-time headwind: a $10.25 billion income tax charge tied to the European Court of Justice's ruling that Apple owed back taxes to Ireland, which weighed heavily on GAAP net income, pulling it down to $14.74 billion from $22.96 billion in the year-ago period. Beneath that noise, the underlying business showed broad momentum, with iPhone revenue rising to $46.22 billion and Services reaching $24.97 billion, up from $22.31 billion a year earlier, demonstrating the durability of its recurring revenue model. Analysts have noted that while Apple's ecosystem moat remains intact, the pace of AI-driven iPhone upgrades may temper near-term growth expectations, even as the company enters the holiday quarter with its Apple Intelligence rollout underway.
Key Takeaways
- • iPhone revenue growth driven by iPhone 16 lineup launch
- • Services revenue reached new all-time high at $24.97 billion
- • Active installed base reached new all-time high across all products and all geographic segments
- • 6% year-over-year revenue growth
- • Gross margin expansion driven by favorable product mix and services growth
AAPL YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
AAPL Revenue by Segment
With YoY comparisons, source: SEC Filings
AAPL Revenue by Geography
With YoY comparisons, source: SEC Filings
“Today Apple is reporting a new September quarter revenue record of $94.9 billion, up 6 percent from a year ago. During the quarter, we were excited to announce our best products yet, with the all-new iPhone 16 lineup, Apple Watch Series 10, AirPods 4, and remarkable features for hearing health and sleep apnea detection. And this week, we released our first set of features for Apple Intelligence, which sets a new standard for privacy in AI and supercharges our lineup heading into the holiday season.”
— Tim Cook, Q4 2024 Earnings Press Release
AAPL Earnings Trends
AAPL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AAPL EPS Trend
Earnings per share: estimate vs actual
AAPL Revenue Trend
Quarterly revenue: estimate vs actual
AAPL Quarterly Results
9 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.94 | $2.01 | +3.61% | $111.18B | — |
| Q1 26 BEAT | $2.67 | $2.84 | +6.37% | $143.76B | — |
| Q4 25 BEAT FY | $1.77 | $1.85 | +4.52% | $102.47B | — |
| FY Full Year | — | $7.46 | — | $416.16B | — |
| Q3 25 BEAT | $1.43 | $1.57 | +9.79% | $94.04B | — |
| Q2 25 BEAT | $1.62 | $1.65 | +1.85% | $95.36B | — |
| Q1 25 BEAT | $2.34 | $2.40 | +2.56% | $124.30B | — |
| Q4 24 BEAT FY | $0.95 | $1.64 | +72.63% | $94.93B | — |
| FY Full Year | — | $6.75 | — | $391.04B | — |
| Q3 24 BEAT | $1.34 | $1.40 | +4.48% | $85.78B | — |
| Q2 24 BEAT | $1.50 | $1.53 | +2.00% | $90.75B | — |