NASDAQ$AAPL

Apple · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

Apple's Q3 2024 earnings were released, revealing record June quarter revenue and EPS, with Services revenue reaching an all-time high.

Apple reported a June quarter revenue record of $85.8 billion, up 5% year over year, and earnings per diluted share of $1.40, up 11% year over year. The company's performance was driven by strong business results and an increase in its installed base of active devices across all geographic segments.

  • Apple reported a new June quarter revenue record of $85.8 billion, a 5% increase from the previous year.
  • The company's earnings per diluted share (EPS) grew by 11% during the quarter, reaching $1.40.
  • Apple's Services revenue hit a new all-time high.
  • The installed base of active devices reached a new all-time high across all geographic segments.

Headline financials

Total Revenue

$85.8B

Previous: $81.8B+4.9%
EPS

$1.40

Previous: $1.26+11.1%
Diluted Shares Outst.

15.3B

No prior period
Capital Expenditures

-$6.54B

Previous: -$8.8B+25.7%
Free Cash Flow

$14.9B

Previous: $11.1B+34.5%
Net Income

$21.4B

Previous: $19.9B+7.9%
Operating Income

$25.4B

Previous: $23B+10.2%
Gross Profit

$39.7B

Previous: $36.4B+9.0%
Cash & Equivalents

$25.6B

Previous: $28.4B-10.0%
Total Assets

$332B

Previous: $335B-1.0%
R&D Expense

$8.01B

No prior period
Stock-Based Comp

$2.87B

Previous: $2.62B+9.6%

Revenue & EPS history

Apple · Revenue · Quarterly

$85.8B

Q3 2024+4.9%vs Q3 2023
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

Apple · $111B total across 5 segments · Q2 2026

  • Americas
    $45.1B
  • Europe
    $28.1B
  • Greater China
    $20.5B
  • Rest of Asia Pacific
    $9.14B
  • Japan
    $8.4B

Forward guidance

The press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties.

Tailwinds

  • Payment of the Company’s quarterly dividend
  • Future business plans
  • Design of products
  • Manufacture of products
  • Introduction of products and services

Headwinds

  • Effects of global and regional economic conditions, including as a result of government policies, war, terrorism, natural disasters, and public health issues
  • Risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, and content
  • Risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data
  • Effects of unfavorable legal proceedings
  • Effects of government investigations, and complex and changing laws and regulations

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2024

Historical avgQ3 2024

+1.2%

Avg return

Earnings day

+2.0%

Avg return

5 days after

+3.7%

Avg return

30 days after

63%

46 / 73 earnings

Positive

+11.8%

Q3 2020

Best reaction

-10.8%

Q1 2013

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026+5.4%+6.0%+15.0%
Q1 2026-0.5%+7.1%+2.3%
Q4 2025-4.9%-0.5%+2.7%
Q3 2025-3.8%+2.7%+11.8%
Q2 2025-3.8%-8.0%-5.8%
Q1 2025-0.7%-2.2%+1.8%
Q4 2024-3.1%-2.9%+3.1%
Q3 2024-1.0%-6.7%+3.1%
Q2 2024+8.3%+7.7%+13.6%
Q1 2024+0.8%+2.7%-2.6%
Q4 2023+1.5%+4.5%+9.9%
Q3 2023-5.5%-6.6%-1.6%
Q2 2023+3.7%+2.6%+8.1%
Q1 2023+6.2%+6.3%+3.9%
Q4 2022+4.3%+0.9%-0.8%
Q3 2022+3.6%+2.1%+4.4%
Q2 2022+0.7%+1.9%-4.4%
Q1 2022+6.7%+9.3%+3.2%
Q4 2021+0.6%+0.8%+5.3%
Q3 2021-2.7%-2.1%-1.0%
Q2 2021-0.7%-1.4%-7.3%
Q1 2021-4.2%-6.3%-15.3%
Q4 2020-2.1%-0.7%+4.8%
Q3 2020+11.8%+15.4%+31.3%
Q2 2020+0.5%+3.4%+10.5%
Q1 2020+5.0%+0.2%-11.5%
Q4 2019+2.3%+5.8%+9.8%
Q3 2019+1.6%-2.7%-0.3%
Q2 2019+2.9%+3.5%-12.9%
Q1 2019+5.7%+6.5%+10.8%
Q4 2018-5.2%-6.9%-18.4%
Q3 2018+6.1%+9.5%+18.5%
Q2 2018+6.8%+11.2%+13.1%
Q1 2018-4.1%-2.6%+5.2%
Q4 2017+3.4%+4.7%+2.5%
Q3 2017+5.6%+5.2%+10.3%
Q2 2017+0.3%+1.6%+4.5%
Q1 2017+5.9%+6.1%+14.2%
Q4 2016-1.7%-3.3%-5.5%
Q3 2016+5.8%+7.1%+10.5%
Q2 2016-6.9%
Q1 2016-6.0%
Q4 2015+3.5%
Q3 2015-5.2%
Q2 2015+0.2%
Q1 2015+1.9%
Q4 2014+4.9%
Q3 2014+3.5%
Q2 2014+6.8%
Q1 2014-7.2%
Q4 2013-1.8%
Q3 2013+3.3%
Q2 2013+1.7%
Q1 2013-10.8%
Q4 2012-2.1%
Q3 2012-4.8%
Q2 2012+6.7%
Q1 2012+4.5%
Q4 2011+1.7%
Q3 2011+2.7%
Q2 2011+3.1%
Q1 2011-2.4%
Q4 2010-0.9%
Q3 2010+2.8%
Q2 2010+8.9%
Q1 2009+4.1%
Q1 2010+4.1%
Q4 2007-5.0%
Q4 2009-5.0%
Q3 2009+4.3%
Q3 2008+4.3%
Q4 2008+4.3%
Q2 2009+4.3%

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