The company said that in fiscal 2024, net sales in the Americas and Europe increased year over year in Q3, while Greater China declined. The company cited lower iPhone net sales as the factor behind the Greater China decline.

1. 01

   The company said that in fiscal 2024, net sales in the Americas and Europe increased year over year in Q3, while Greater China declined. The company cited lower iPhone net sales as the factor behind the Greater China decline.

2. 02

   Apple said Services net sales rose year over year in fiscal 2024 for Q3 and the first 9 months, citing higher net sales from advertising, the App Store and cloud services. iPhone net sales over the same period were relatively flat.

3. 03

   The company said Services gross margin increased year over year in Q3 and the first 9 months. It cited higher R&D expense driven mainly by headcount-related costs, and said selling, general and administrative expense increased $347 million in Q3 and $793 million in the first 9 months.

4. 04

   The company said that as of June 29, 2024, its manufacturing purchase obligations were $38.4 billion, of which $38.3 billion is payable within 12 months. In fiscal 2024, it repurchased $26.0 billion of its common stock in Q3 and paid dividends and dividend equivalents of $3.9 billion.

Key figures

Quarter ended June 29, 2024

Revenue

$85.8B

Operating income

$25.4B

Net income

$21.4B

EPS

$1.40

Gross profit

$39.7B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.