Apple June quarter tidbits: iPhone and Wearables fall flat, iPad and Mac rebound
iPhone sales declined in Apple’s June 2024 quarter, but iPad sales rebounded, primarily buoyed by the new iPad Pro and Air models, reveals an earnings report.
Apple reported financial results for its fiscal 2024 third quarter ended June 29, 2024, which roughly corresponds to the second calendar quarter. Sales of iPhones and wearable products have declined as fans await the upcoming iPhone 16 lineup and 2024 Apple Watch lineups. Apple did manage to break the iPad’s streak of several consequential quarters of falling sales by launching the new OLED-based iPad Pros powered by the M4 chip and the new M2 iPad Air. Both tablets went on sale in May, contributing a few weeks of revenue. Here are the stats vs. the year-ago quarter:
- Revenue: $85.78 billion vs. 81.80 billion
- EPS: $1.40/share vs. $1.26/share
- iPhone: $39.3 billion vs. $39.67 billion
- iPad: $7.16 billion vs. $5.79 billion
- Mac: $6.84 billion vs. $7.01 billion
- Wearables, Home, and Accessories: $8.28 billion vs. $8.09 billion.
- Services: $24.2 billion vs. $21.21 billion
In other words, revenue for the iPhone (-1.0 percent) and Wearables (-2.3 percent) nosedived, while the Mac (+2.5 percent) and iPad got boosted (+23.7 percent).
Tidbits from Apple’s June 2024 quarter results
- Apple Vision Pro has 2,500 native spatial apps
- New immersive content is coming to the headset
- Cook said Apple saw “great interest” for Vision Pro in the enterprise
- National Park hikes coming to Apple Maps this fall
- The iPhone set June quarter sales records in the UK, Spain, Poland, Mexico, Indonesia and the Philippines
- The iPhone and Mac active install bases reached their respective all-time highs
- Half of MacBook Air sales in the quarter went to users who were new to the Mac
- Apple has passed 1 billion paid subscriptions, double that in 2020
- Siri will get ChatGPT integration by the end of 2024
- Apple will continue launching new shows and games
Apple’s Wearables, Home, and Accessories business is a catch-all category for wearable devices like its Apple Watch, all AirPods and Beats products, the Vision Pro headset and the AirTag personal item tracker; smart home devices like the Apple TV and the HomePod; and various accessories sold at its retail stores.
The Services segment includes services and subscriptions like the App Store, Apple Music, Apple TV+, Apple Arcade, Apple Fitness, Apple News+, iCloud+ and Apple Pay, as well as the AppleCare+ extended coverage and Apple One bundles.
Apple has stopped issuing guidance since the pandemic, and that doesn’t seem to be changing anytime soon. The company’s leadership has declared a quarterly dividend payment of $0.25/share, according to the Apple Newsroom announcement.
Some people expect the launch of Apple Intelligence this fall to have a material impact on Appel’s device sales going forward. There’s no factual basis for this, as we’re still in the early days of generative AI, and it’s unclear whether enough people consider AI an important factor in having a material impact on sales.
Source link: https://www.idownloadblog.com/2024/08/02/apple-earnings-june-2024-quarter-tidbits/
Leave a Reply