California Governor Gavin Newsom Launches Review Into Alleged TikTok Content Suppression After U.S. Ownership Deal 
Google Halts UK YouTube TV Measurement Service After Legal Action 
ANTA Sports to Acquire Major Stake in Puma in €1.5 Billion Deal, Signaling Strategic Revival 
Zijin Mining Shares Hit Record High on $4 Billion Allied Gold Acquisition 
LVMH Investors Watch Earnings Closely as Luxury Recovery Faces New Challenges 
The Maire - EuroChem Case: Three Lessons for Global Business 
Boeing Posts Fourth-Quarter Profit on Jeppesen Sale Despite Ongoing Unit Losses 
Citigroup Faces Lawsuit Over Alleged Sexual Harassment by Top Wealth Executive 
C3.ai in Merger Talks With Automation Anywhere as AI Software Industry Sees Consolidation 
Woodside Energy Flags Lower 2026 Production Outlook Despite Strong Q4 Revenue Beat 
Alibaba-Backed Moonshot AI Unveils Kimi K2.5 to Challenge China’s AI Rivals 
Ford and GM Near Financing Deal to Support First Brands Group During Bankruptcy 
Anthropic Raises 2026 Revenue Outlook by 20% but Delays Path to Profitability 
ASML’s EUV Monopoly Powers the Global AI Chip Boom 
BYD and Exxon Mobil Strengthen Hybrid Technology Partnership 
China Approves First Import Batch of Nvidia H200 AI Chips Amid Strategic Shift 
SoftBank Shares Surge as It Eyes Up to $30 Billion New Investment in OpenAI 
Apple posted a solid financial performance in Q3 2024, reporting a profit of $21.4 billion on $85.8 billion in revenue. The earnings call highlighted new hardware releases and solid gains in multiple segments, exceeding Wall Street's expectations.
Apple's Q3 2024 Profit Surpasses Expectations, Driven by New Hardware Releases Despite iPhone Revenue Dip
Apple's Q3 2024 earnings call showcased a solid financial performance driven by the release of new hardware. The California-based company reported a profit of $21.4 billion on revenue of $85.8 billion, surpassing Wall Street's expectations in all segments. However, as the source will soon discuss, not all categories outperformed the previous quarter.
The technology giant's revenue in the third quarter of 2024 exceeded the $81.80 billion it generated in the same quarter a year prior, and its earnings per share increased to $1.40 from $1.26 in the third quarter of 2023. According to Wccftech. the iPhone segment of Apple's Q2 2024 earnings, which accounted for 50.6 percent of the total revenue at $45.96 billion, generated a reduced revenue of $39.3 billion, or 45.7 percent of the total. This figure may have exceeded Wall Street's projections; however, it is less than the $39.67 billion Apple generated in Q3 2023.
New iPad Launches Boost Apple's Q3 2024 Earnings, Services Revenue Continues to Grow Steadily
Apple was fortunate to receive a financial cushion due to the M2 iPad Air and M4 iPad Pro launches. The Mac range generated $7.01 billion, a modest increase from the $6.84 billion it generated in Q3 2023, while the new tablet releases generated $7.16 billion, up from $5.79 billion a year ago. In the Wearables, Home, and Accessories category, Apple's Q3 2024 earnings showed a revenue of $8.09 billion, a decrease from $8.28 billion a year ago.
The Services segment once again proved to be a reliable source of income for Apple, with its revenue increasing from $21.21 billion in Q3 2023 to $24.2 billion. This growth underscores the segment's importance in Apple's revenue stream. Apple's gross margin for the quarter was 46.3 percent, a slight decrease from 44.5 percent a year ago.
