It was a great quarter for Apple, even if there are a few warning signs that might be worth paying attention to.
Apple on Thursday released its Q4 2024 financial results for its holiday quarter, citing its “best quarter ever” with revenues of $124.3 billion and a profit of $36.3 billion, up four percent year over year. The company noted that its Chinese sales took a tumble.
iPhone sales were down slightly to just over $69 billion and came in under estimates of $71 billion. CEO Tim Cook blamed some of the lower sales on the lack of Apple Intelligence in China, which suffered an 11 percent overall sales decline. Cook said a change in channel inventory was also partially to blame for the sales drop.
The Mac sector saw huge gains, Apple posting a 15 percent increase, while Services grew to an all-time high of $26.3 in sales. Apple also released new M4 Macs in the corner, which featured a redesigned Mac mini as well as refreshed MacBook Pro notebooks.
iPad sales rose, the sector marking more than $8 billion in sales for the first time since Q1 2023. The company released a new iPad mini in October and several of its tablet models were heavily discounted over the Black Friday and holiday shopping periods. Apple is rumored to be releasing a new entry-level iPad in the spring.
The Wearables category, which includes AirPods, Apple Watch, and HomePod, was mostly flat despite the launch of a new Apple Watch in September.
Cook noted that Apple’s installed base of active devices reached a new all-time high.
Stay tuned for additional details as they become available.
Via Macworld and investor.apple.com