Apple (AAPL) Q3 2024 earnings results beat EPS and revenue expectations
Apple showed a solid beat for revenue and EPS in its latest round of quarterly earnings.
Apple (AAPL) is out with its earnings for the third quarter of its financial year, showing a beat on earnings and revenue. However, the stock saw mixed results in after-hours trading.
Apple tallied $85.8 billion for the period as shared in its Q3 2024 earnings report, which beat the expectation of $84.5 billion. The company’s EPS was $1.40, toppling the $1.35 expectation.
Source: Apple
“Today Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 percent from a year ago,” said Tim Cook, Apple’s CEO. “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. We very much look forward to sharing these tools with our users, and we continue to invest significantly in the innovations that will enrich our customers’ lives, while leading with the values that drive our work.”
Apple stock dropped to $216 in after-hours trading before bouncing back up to $220.83 and then leveling out from there. For more of this week’s financial news, Shacknews has everything you need to know.
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