Apple has released its financial report for the first quarter of 2024, ending on December 30, 2023, revealing $119.6 billion in revenues and $33.9 billion in profits. There was a 2% increase in revenues and a 13% growth in profits compared to the previous year.
The iPhone continued to be Apple’s top revenue generator at $69.7 billion, while the company’s services, including Apple Music, TV+, iCloud, and the App Store, reached a new record high of $23.1 billion in revenue.
Wearables, home, and accessories contributed $11.9 billion, Mac revenue stayed strong at $7.8 billion, while iPad revenue decreased to $7 billion from $9.4 billion the previous year, marking a 25% year-over-year decline. The lack of new iPad releases in 2023 likely contributed to this significant drop.
Apple Inc consolidated financial statement for Q1, 2024
The Americas were Apple’s most successful market with $50.4 billion in net sales, followed by Europe ($30.4 billion) and China ($20.8 billion). Apple proudly announced a user base of 2.2 billion active devices worldwide. CEO Tim Cook highlighted Apple’s dedication to pioneering innovation on the eve of the Apple Vision Pro launch in the US.
