Apple Q2 2024 results show a company in transition — balancing record Services performance with the launch of its next big platform. Apple reported $90.8 billion in revenue for the March quarter, down 4% year over year, but still delivered a record EPS of $1.53 for the period.
The quarterly dividend was also raised to $0.25 per share, payable on May 16, 2024, marking the twelfth consecutive annual increase.
Services Revenue Hits New Peak
Apple’s Services business was the highlight of the quarter, setting an all-time revenue record despite broader revenue pressure. It’s a clear signal that Apple’s strategy to lean into subscriptions, content, and cloud-based offerings continues to pay off.
“We’re thrilled with the momentum in Services and proud to have introduced Apple Vision Pro to the world,” said CEO Tim Cook. “There’s so much to look forward to — including a product announcement next week and what we believe will be a remarkable WWDC.”
Vision Pro Launch Marks Strategic Shift
The March quarter also saw the long-awaited debut of Apple Vision Pro, ushering in a new era of spatial computing. While early sales figures weren’t disclosed, the launch was a defining moment that signals Apple’s next platform ambition beyond iPhone and Mac.
Shareholder Confidence Remains High
While total revenue was down, Apple continued to demonstrate strong financial discipline. The company achieved a March-quarter record in earnings per share, reaching $1.53, and announced a $110 billion share repurchase authorization — its largest ever.
“We set a new EPS record for the March quarter, thanks to strong margins and customer loyalty across the board,” said CFO Luca Maestri. “With nearly unmatched financial flexibility, we’re investing in innovation while returning value to shareholders.”
Apple Q2 2024 Reflects Strategic Balance
Despite a dip in year-over-year revenue, the Apple Q2 2024 report underscores the company’s balance: strength in high-margin services, bold moves into new computing platforms, and sustained investor confidence.
