Apple reports record revenue for the fourth quarter of 2024

At the same time, according to the report, the device maker’s net profit during this period decreased by 35%, from $23 billion to $15 billion. For the year as a whole, Apple’s revenue grew 2%, from $383 billion to $391 billion, while net income fell 3%, from $97 billion to $94 billion.

The decline in revenue is due to reduced sales in China: Bloomberg wrote that Apple faces fierce competition in this country. Thus, the annual figure in this territory fell 8%, from 73 billion dollars to 67 billion dollars. Global sales during this period increased from $383 billion to $391 billion, up 2%.

Among Apple’s individual products, the most notable quarterly growth was demonstrated by the iPhone (up 4%, from $44 billion to $46 billion) and services, including music streaming Apple Music and the video platform Apple TV+ (14%, from $22 billion to $46 billion). 25 billion dollars).

Following the publication of the report for the fourth quarter of 2024, the American company’s shares fell almost 2% during trading on October 31. At the time of this publication, Apple stock is trading at $224 per share. Investors apparently did not like the decline in revenues in China, writes MarketWatch.

Apple made several big announcements in October, including an updated Mac mini with M4 and M4 Pro processors, the next-generation iMac with an M4 chip, and an iPad mini with A17 Pro. According to Bloomberg, the manufacturer is working on other devices, including a iPhone SE without a Home button and a cheap augmented reality headset called Vision.