Apple (Apple) announced its financial results for the first quarter of 2024 (ended December 30, 2023) on Thursday (February 1): revenue increased by 2% year-on-year to $119.575 billion, gross profit margin rose to 45.9% from 43.0% a year ago, and revenue increased by 12.1% year-on-year to $40.373 billion.
Apple's first quarter financial report showed that revenue in the Americas increased 2.3% year-on-year to $50.430 billion, revenue in Europe increased 9.8% year-on-year to $30.397 billion, revenue in Greater China (including Chinese mainland/mainland, Hong Kong, Taiwan) decreased 12.9% year-on-year to $20.819 billion, Japan revenue increased 15% year-on-year to $7.767 billion, and revenue in the rest of Asia Pacific increased 6.6% year-on-year to $10.162 billion.
Image source: Apple
Apple noted on Thursday that in the first quarter of 2024, iPhone sales increased 6% year-on-year to $69.702 billion, service sales increased 11.3% year-on-year to $23.117 billion, Mactosh computer (Mac) sales increased 0.6% year-on-year to $7.780 billion, wearables/home devices/accessories sales decreased 11.3% year-on-year to $11.953 billion, and iPad sales decreased 25.3% year-on-year to $7.023 billion.
CNBC reported on Thursday that this is Apple's first year-on-year revenue growth report card in five quarters. According to the market consensus value compiled by LSEG, analysts expect Apple's first-quarter sales of iPhone, services, Macintosh computers, wearables/home devices/accessories, and iPad to be $67.82 billion, $23.35 billion, $7.73 billion, $11.56 billion, and $7.33 billion, respectively. Analysts also expect Apple's gross margin to be 45.3% in the first quarter.
Apple CEO Tim Cook said in an interview that Apple accounts for four of the top six best-selling smartphones in China's urban areas. In addition, he mentioned that there are only 13 weeks in the first quarter of 2024, compared to 14 weeks in the same period a year ago, and the US dollar has risen against the yuan.
Cook said in a press release on Thursday that first-quarter service sales hit an all-time high, and the number of active device installations now exceeded 2.2 billion, the highest level in history across all products and geographies.
Source: Science and Technology News | Cover image source: Paixin.com