Apple reported record revenue for Q3 2024 and it’s safe to say the company isn’t doomed, yet again. It made $85.8 billion during the last three months.
Apple Sees Growth Compared to Last Year in Q3 2024 – Reports Revenue of $85.8 Billion
This is the biggest June quarter Apple has ever reported with a net profit of $21.4 billion. Compared to last year in the same quarter, Apple reported revenue of $81.8 billion with a net profit of $19.9 billion. In case you’re wondering, this is a 5% improvement over last year.
Now comes the interesting part of the revenue – breakdown of earnings by product category.
Apple’s iPhone business made $39.3 billion which is slightly down by 0.94% compared to last year. The Mac saw an increase with $7 billion earned which is a 2.46% growth.
But, the iPad saw the largest growth overall with the category making $7.16 billion which is a huge growth of 23.63 billion compared to last year.
Apple’s wearable, AirPods and accessories business saw a slight decrease of 2.26%, but made $8.1 billion in this quarter. Services, on the other hand is going strong with a growth of 14.14% compared to last year while bringing in $24.21 billion.
iPad getting a boost in Q3 2024 really doesn’t come as a surprise given how solid the lineup is now. We have the M2 iPad Air which is the easiest iPad to recommend, then there’s the ultra-powerful M4 iPad Pro which is a truly game-changing device. At the bottom of the spectrum is the iPad 10, which is insane value for money.
I always argue with people that iPad is going to be extremely poplar with the younger generation that is more acquainted to the iPhone and would prefer owning a laptop-like device that’s similar to it. Instead of buying a Mac, the iPad feels more at home. And I do see it in a lot of places these days. Who knows that played a part this quarter.
Either that, or people overnight decided to like the iPad more for no reason.
