Q3 2024 Apple Inc Earnings Call Transcript
Key Points
- Apple Inc (AAPL) reported a new June quarter revenue record of $85.8 billion, up 5% year-over-year.
- EPS grew double digits to $1.40, achieving a record for the June quarter.
- Services revenue reached an all-time record of $24.2 billion, growing 14% year-over-year.
- Apple Inc (AAPL) set quarterly revenue records in more than two dozen countries and regions.
- The installed base of active devices reached an all-time high across all products and geographic segments.
- iPhone revenue was $39.3 billion, down 1% year-over-year.
- Wearables, Home and Accessories revenue was $8.1 billion, down 2% year-over-year.
- Mac revenue growth was modest at 2% year-over-year.
- Foreign exchange had a negative impact on revenue of about 1.5 percentage points.
- Operating expenses increased by 7% year-over-year to $14.3 billion.
Good afternoon, and welcome to the Apple Q3 fiscal year 2024 earnings conference call. My name is Suhasini Chandramouli, Director of Investor Relations. Today's call is being recorded. Speaking first, today is Apple's CEO, Tim Cook, and he'll be followed by CFO, Luca Maestri. After that, we'll open the call to questions from analysts.
Please note that some of the information you'll hear during our discussion today will consist of forward-looking statements, including without limitation those regarding revenue, gross margin, operating expenses, other income and expense, taxes, capital allocation and future business outlook, including the potential impact of macro-economic conditions on the company's business and results of operations.
These statements involve risks and uncertainties that may cause actual results or trends to differ materially from our forecast. For more information, please refer to the risk factors discussed in Apple's most recently filed annual report on Form 10-K and the Form 8-K filed with the SEC today
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