Apple announced i fourth quarter fiscal 2024 resultsclosed with revenue of $94.9 billion and net income of $14.7 billion, or $0.97 per diluted share. Although turnover recorded a growth of 6% compared to the same period of 2023, the multinational faced a significant drop in profits due to a one-time fine of $10.2 billion for tax disputes in the European Union. Without this extraordinary expense, Apple’s earnings would have been $1.64 per share, an increase of 12% from the previous year.
Gross margin saw slight growth to 46.2%, compared to 45.2% in the fourth quarter last year, signaling better cost management despite pressure from global markets. Apple also confirmed the payment of a quarterly dividend of $0.25 per share, which will be distributed to shareholders of record by November 11th, with payment expected on November 14th.
For the full fiscal year 2024, Apple totaled a revenue of $391 billionup from $383.3 billion in 2023. However, annual net income shrank to $93.7 billion from $97 billion a year earlier.
The company led by Tim Cook launched the new iPhone 16, Apple Watch Series 10 and AirPods 4 line during the last quarter, with new health functions such as sleep apnea detection. Tim Cook said: “We achieved a new revenue record for the September quarter and are excited about our new additions, including our flagship products and innovations in Apple Intelligence, which redefine privacy in artificial intelligence.”
However, Apple has decided, as has been customary for over four years, not to provide forecasts for the current quarter, which coincides with the holidays and ends in December.
Growth in quarterly revenues is certainly a positive sign, but the impact of such a high tax cannot be underestimated. With a cost of $10.2 billion, Apple nevertheless demonstrated the solidity of its operating model, managing to maintain a positive performance on the revenue front and increasing gross margin.
It should also be noted that the launch of Apple Intelligence could represent a strategic asset for the company’s future, going beyond the classic ecosystem and positioning itself in the artificial intelligence sector. It’s clear that Apple is investing heavily in personalizing the user experience and protecting privacy, and this could turn into a strong competitive advantage, especially in an era where consumer trust is crucial.
News
Source: www.iphoneitalia.com
