You can’t sneeze at a quarterly profit of $33.9 billion.
Apple on Thursday announced its Q1 quarterly results, which correspond to the fourth quarter of 2023. During the announcement, the company posted revenue of $119.6 billion and net quarterly profit of $33.9 billion, or $2.18 per diluted share, compared to revenue of $117.2 billion and net quarterly profit of $30.0 billion, or $1.88 per diluted share, in the year-ago quarter.
Gross margin for the quarter hit 45.9 percent, compared to 43.0 percent in the year-ago quarter, and Apple CEO Tim Cook offered the following statement:
“Today Apple is reporting revenue growth for the December quarter fueled by iPhone sales, and an all-time revenue record in Services. We are pleased to announce that our installed base of active devices has now surpassed 2.2 billion, reaching an all-time high across all products and geographic segments. And as customers begin to experience the incredible Apple Vision Pro tomorrow, we are committed as ever to the pursuit of groundbreaking innovation — in line with our values and on behalf of our customers.”
As has been the case for over three years now, Apple is once again not issuing guidance for the current quarter ending in March. The company, as usual, didn’t offer specific sales numbers for given products.
Stay tuned for additional details as they become available.