Apple earns $1 billion profit every four days — company announces $85.8 billion revenue in third-quarter results
$85,800,000,000.
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Apple has announced its financial results for the third quarter of 2024, revealing a whopping $85.8 billion of revenue, up 5% YoY.
Apple CEO Tim Cook said in a press release, “During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence, a breakthrough personal intelligence system that puts powerful, private generative AI models at the core of iPhone, iPad, and Mac."
The arrival of Apple Intelligence is a very exciting time for Apple's products as consumers look to finally get their hands on Apple's take on consumer-focused AI.
Dustin Curtis on X broke down Apple's quarterly financial results to make it more digestible for the average human: "During the last three months, they (Apple) made $953.1 million in revenue and $238.2 million in net profit every single day."
"That's roughly $1 billion profit every four days. Just insane."
Apple's successful quarter
Apple CFO Luca Maestri said, “During the quarter, our record business performance generated EPS growth of 11 percent and nearly $29 billion in operating cash flow, allowing us to return over $32 billion to shareholders,”
He would go on to note that the install base of active devices has "reached a new all-time high in all geographic segments, thanks to very high levels of customer satisfaction and loyalty.”
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These quarterly results are very positive for Apple, bolstered by Services revenue (Apple Music, Apple TV Plus, iCloud+, etc) reaching a new all-time high. With the arrival of the iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max in just a couple of months there's plenty more to get excited about as the company looks to build on this successful third quarter.
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John-Anthony Disotto is the How To Editor of iMore, ensuring you can get the most from your Apple products and helping fix things when your technology isn’t behaving itself. Living in Scotland, where he worked for Apple as a technician focused on iOS and iPhone repairs at the Genius Bar, John-Anthony has used the Apple ecosystem for over a decade and prides himself in his ability to complete his Apple Watch activity rings. John-Anthony has previously worked in editorial for collectable TCG websites and graduated from The University of Strathclyde where he won the Scottish Student Journalism Award for Website of the Year as Editor-in-Chief of his university paper. He is also an avid film geek, having previously written film reviews and received the Edinburgh International Film Festival Student Critics award in 2019. John-Anthony also loves to tinker with other non-Apple technology and enjoys playing around with game emulation and Linux on his Steam Deck.
In his spare time, John-Anthony can be found watching any sport under the sun from football to darts, taking the term “Lego house” far too literally as he runs out of space to display any more plastic bricks, or chilling on the couch with his French Bulldog, Kermit.