Apple’s Q3 Fiscal 2024 Results Unveiled: A Glimpse into Tech Giant’s Performance

Apple reports impressive financial results for Q3 2024, with record-breaking revenue, a rise in earnings per share, and a commitment to customer satisfaction through innovative updates and a cash dividend for shareholders.

5% increase in quarterly revenue compared to last year
11% increase in quarterly earnings per diluted share
Record-breaking business performance and active device user base

In a recent announcement, Apple revealed its financial results for the third quarter of fiscal year 2024, which ended on June 29, 2024. And let me tell you, the numbers are looking pretty impressive. The tech giant reported a quarterly revenue of $85.8 billion, marking a 5 percent increase compared to the same period last year. Not too shabby, right?

But that’s not all. Apple also saw a rise in its quarterly earnings per diluted share, which reached $1.40, an 11 percent increase from the previous year. Tim Cook, the CEO of Apple, couldn’t contain his excitement as he shared the news. “Today Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 percent from a year ago,” Cook said. And who can blame him? It’s a pretty big deal.

During this quarter, Apple had some exciting things to talk about. One of the highlights was the Worldwide Developers Conference, where the company launched some incredible updates to its software platforms. One of the most buzzworthy announcements was Apple Intelligence, a personal intelligence system that integrates powerful, private generative AI models into iPhone, iPad, and Mac devices. It’s all about putting the power of AI in the hands of the users.

But it’s not just about the numbers and the fancy new features. Apple is also committed to investing in innovations that will enhance the lives of its customers. Cook emphasized the company’s dedication to its values, saying, “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.” It’s always nice to see a company that cares about more than just making money.

Luca Maestri, Apple’s CFO, also had some positive news to share. Thanks to their record-breaking business performance, Apple generated an impressive 11 percent growth in earnings per share and a whopping $29 billion in operating cash flow during the quarter. And that’s not all. The company’s active device user base reached an all-time high across all geographic segments. It seems like Apple’s customers are pretty happy with their devices.

To show their gratitude to shareholders, Apple’s board of directors declared a cash dividend of $0.25 per share of the company’s common stock. This dividend will be payable on August 15, 2024, to shareholders of record as of August 12, 2024. It’s always nice to get a little something back, right?

For those who are interested in diving deeper into the financial details, Apple will be providing a live streaming of its Q3 2024 financial results conference call on August 1, 2024, at 2:00 p.m. PT. You can catch the webcast at apple.com/investor/earnings-call. And if you miss it, don’t worry. The webcast will be available for replay for approximately two weeks.

If you’re an investor or just someone who likes to stay informed, Apple has got you covered. They regularly provide information on their corporate website, apple.com, and their investor relations website, investor.apple.com. You can find press releases, financial performance reports, SEC filings, corporate governance information, and details about their annual meeting of shareholders. They’ve got it all.

So, there you have it. Apple’s Q3 2024 financial results are in, and they’re looking pretty good. With record-breaking revenue, exciting new features, and a commitment to customer satisfaction, Apple continues to show why they’re one of the leading tech companies in the world.

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Background Information

About Apple:

Apple Inc., known for its iconic products, was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976. The company has since revolutionized the technology landscape with innovations like the Macintosh computer, iPod, iPhone, iPad, and more. for its emphasis on design, user experience, and ecosystem integration, Apple's devices and software have made a profound impact on various industries. With a commitment to quality and innovation, Apple remains a global technology leader.