Apple Inc. released its official financial report for the third fiscal quarter of 2024, which concluded on June 29. As part of its Apple Financial performance disclosure, the company reported quarterly revenue totaling $81.8 billion. This represents a modest decline compared to the $83.0 billion recorded during the same quarter in the previous year, indicating a slight year-over-year dip in overall sales.

Despite the minor drop in revenue, Apple Financial results showed an encouraging increase in profitability. The tech giant reported earnings per diluted share (EPS) of $1.26, up from $1.20 in the third quarter of 2023. This growth in EPS highlights improved operational efficiency and a strong commitment to shareholder value. The latest Apple Financial figures reflect both the challenges and resilience of Apple’s business operations in a competitive global market environment.

The company’s board of directors declared a cash dividend of $0.23 per share of the company’s common stock, payable on August 17, 2024, to shareholders of record as of the close of business on August 14, 2024.

Apple CEO Tim Cook expressed satisfaction with the company’s performance, stating, “This quarter’s results reflect the enduring strength of our products and services, as well as the love and loyalty of our customers around the world. We are pleased with our performance in the face of ongoing challenges in the macro environment.”

Projections for the Future

In addition to reporting its financial results, the company offered forward-looking guidance for the upcoming fourth quarter of fiscal year 2024. It expects total revenue to fall within the range of approximately $87 billion to $93 billion, reflecting potential variability depending on market conditions and performance across its product and services segments.

Apple also anticipates maintaining a strong gross margin, projected to be between 44 percent and 45 percent. Operating expenses are forecasted to range from $12.5 billion to $12.6 billion, encompassing investments in research and development, marketing, and other corporate functions. Furthermore, the company projects other income and expenses to result in a net gain of around $50 million for the quarter.