Apple, the American technology company, has announced its financial results for Q2 2024, which ended on March 20th.
The company made $90.8 billion in total, which is a 4% increase compared to the previous year. Their earnings per diluted share for the quarter were $1.53.
Record earnings in markets across Latin America, the Middle East, Canada, Spain, Turkey, and Indonesia.
The services revenue has hit a record-breaking $23.9 billion, which is an increase of 14%. Apple is seeking to enhance its market share by introducing new features in a wider range of countries and regions.
It is currently too early to determine how the EU’s DMA regulations will impact this section of Apple’s revenue.
The revenue generated by iPhone Segment sales was 46 billion, which is a 10% decrease from the previous year’s revenue.
The overall products segment decreased by 10% to a total of 66.9 Billion.
During its investment call, Apple cited a survey indicating that iPhones have 99% customer satisfaction in the US.
“Today Apple is reporting revenue of $90.8 billion for the March quarter, including an all-time revenue record in Services. During the quarter, we were thrilled to launch Apple Vision Pro and to show the world the potential that spatial computing unlocks. We’re also looking forward to an exciting product announcement next week and an incredible Worldwide Developers Conference next month. As always, we are focused on providing the very best products and services for our customers, and doing so while living up to the core values that drive us.”
said Tim Cook, Apple’s CEO
Apple’s board of directors has announced that the company’s common stock will receive a cash dividend of $0.25 per share, which is a 4% increase.
The dividend will be paid on May 16, 2024, to shareholders who are recorded as of the close of business on May 13, 2024.
Additionally, the board has authorized a new program for repurchasing up to $110 billion worth of the company’s common stock.
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