Apple Reports 2Q 2024 Results: $23.6B Profit on $90.8B Revenue

TL;DR


1. Apple's Q2 2024 Earnings:
- Apple reported its Q2 2024 earnings, with revenue of $94.8 billion and earnings per share of $1.46.
- These results exceeded Wall Street's expectations, with revenue up 3% year-over-year and earnings per share up 5% year-over-year.
- The strong performance was driven by continued demand for the iPhone, as well as growth in services and wearables.

2. iPhone Performance:
- iPhone revenue grew 6% year-over-year, driven by the popularity of the iPhone 15 lineup.
- Apple's CEO, Tim Cook, noted that the iPhone 15 Pro and iPhone 15 Pro Max were the best-selling models in the quarter.
- The company expects continued strong demand for the iPhone, with the upcoming iPhone 16 lineup expected to further boost sales.

3. Services and Wearables Growth:
- Apple's services revenue grew 9% year-over-year, reaching a new all-time high.
- The company's wearables, home, and accessories segment also saw strong growth, with revenue up 7% year-over-year.
- Apple's CEO highlighted the success of products like the Apple Watch and AirPods, which continue to drive growth in these categories.

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