Published , by TJ Denzer
Published , by TJ Denzer
Apple was one of the largest companies this week to post its earnings results for the most recent quarter, and with Q3 2024 results came some interesting stocks, including stock buybacks. There, Apple revealed that in the last nine months, the company has repurchased about $69 billion worth of its common stock back from shareholders throughout its FY 2024.
Apple shared this metric in its Q3 2024 Consolidated Financial Statement included in its earnings results. It was there that Apple shared that it has spent around $69.86 billion on common stock buybacks throughout the company’s FY 2024. This was up quite a bit from the company’s combined three quarters of similar time frame for FY 2023, which ended up at $56.54 billion, amounting to about a $13.32 billion increase in spending in this metric year-over-year.
Apple has been making some interesting plays in 2024, not the least of which was releasing the Apple Vision Pro VR/AR headset in February. The headset packs in a wealth of interesting technology, but has been said to feel like it’s missing the kind of software that would push it anywhere near a valuable buy, especially at the $3500 price tag. Despite beating revenue and EPS analyst estimates in Q3 2024, Apple also reported a drop in iPhone sales by 1 percent year-over-year. The company is far from any sort of trouble, but its long periods of continuous growth may be leveling out as hype and innovation die down over moving the next generations of its various flagship products.
With that in mind, at least Apple is providing for its shareholders. For more reporting on Apple and other companies releasing earning results, stay tuned her at Shacknews for further stories and updates.