Apple Q1 revenue: iPhone up 6% YoY to $69.7B, Mac up 1% YoY to $7.78B, iPad down 25% YoY to $7.02B, and Wearables, Home, and Accessories down 11% YoY to $11.95B
sort of Ed Hardy / Cult of Mac : Strong iPhone sales power Apple back to revenue growth Larry Dignan / Constellation Research : Apple Q1 better than expected, services strong as product lines mixed Alan Friedman / PhoneArena : Apple reports all-time record Services revenue for fiscal Q1 but Wall Street is not impressed Johana Bhuiyan / The Guardian : Apple breaks year-long streak of falling revenue with strong holiday sales Laura Bratton / Quartz : Apple shares fall even after earnings beat Wall Street's expectations MacDailyNews : Apple beats the Street on top and bottom lines Tom Sykes / The Apple Post : Apple reports Q1 2024 quarterly revenue of $119.6 billion, up 2 percent year over year John Voorhees / MacStories : Apple Reports Quarterly Revenue of $119.6 Billion for Q1 2024 Omar Moharram / Supercharged : Apple reports fiscal Q1 2024 earnings: $33.9B of net profit on $119.6B revenue as Services beat new record Aaron Tilley / Wall Street Journal : Apple Sales Rise in Holiday Quarter, Ending Streak of Shrinking Growth Ina Fried / Axios : Apple earnings top estimates thanks to higher profit margins Wajeeh Khan / Invezz : Apple just reported its Q1 earnings: here are the numbers Yoni Heisler / BGR : Apple posts Q1 earnings and delivers impressive $119.58 billion in revenue Michael Acton / Financial Times : Apple's revenue growth clouded by worries about China slowdown Malcolm Owen / AppleInsider : Apple's $119B Q1 2024 revenue a bounce back from 2023 dip Zac Hall / 9to5Mac : Apple announces Q1 2024 earnings, beating expectations with $119.58 billion revenue Emily Bary / MarketWatch : Apple earnings: Don't focus on iPhone sales. Instead watch this metric. X: Neil Cybart / @neilcybart : Could also explain the technical difficulties in the beginning. Apple may be doing this call from different locations and Cook's connection may have been acting up. Ben Bajarin / @benbajarin : This is exactly right. There was no hint of a $5b sell in boost to iPhones last March Q. So that is news to everyone, and a major reason for the $$ decline even though YoY revenue is likely flat. Neil Cybart / @neilcybart : Just a random musing: Tim Cook sounds like he's on this call remote - in a room that isn't built for earnings calls. My suspicion is he's in NYC for the Vision Pro launch. Gene Munster / @munster_gene : Now that I've had time to process $AAPL guidance, I expect revenue to be down 5% YoY in Mar-24. If not for FX, revenue would be down 3%. Previously the Street had expected revenue to be up 1%. What Apple is saying is last years Mar-23 quarter had a $5B benefit from sales that... Neil Cybart / @neilcybart : Apple is on track to eventually report 50% gross margins on a companywide basis. It was ~38% not that long ago. Consensus thought margins would fall to more like 20% to 25% due to competition. If you are looking for big picture Apple financial stories, you have a rather large one... Neil Cybart / @neilcybart : One day ahead of Apple Vision Pro, Tim Cook is sounding extra confident on this earnings call. He has sounded more subdued on some prior calls. Not this one. Carolina Milanesi / @caro_milanesi : I told you back in June that Apple is very keen on establishing Vision Pro as an enterprise device. Luca Maestri just said: “From everyday productivity to collaborative product design to immersive training, we cannot wait to see the amazing things our enterprise customers we... Neil Cybart / @neilcybart : Apple 2Q24 Guidance Margin - Very strong. Revenue - Sounded like it will be weaker versus my model but will need to take a deeper look to confirm. Emily Chang / @emilychangtv : Just spoke w Apple CFO Luca Maestri: On China: “We are not happy with the decline but we know China is the most competitive market in the world... We continue to see significant opportunity for us in China in the long-term.”🇨🇳 He said the iPhone did not decline as much as other... Ben Bajarin / @benbajarin : Happy to provide some commentary with @OJRenick on $aapl for @SchwabNetwork. No new iPad's in 2023 clearly hurt but Macs being down was a surprise. Watch FQ1 for China to likley look more upbeat. Tero Kuittinen / @teroterotero : @StealthQE4 The -13% revenue collapse in China shocked the market... Apple is on a road to perdition in the very market that was supposed to be the engine of its global growth. The naked hostility Chinese government has towards Apple will snap the company's growth this summer Mark Gurman / @markgurman : Apple reported better sales than projected in the holiday quarter, snapping a yearlong slump, after strong iPhone sales around the world helped make up for weakness in China. https://www.bloomberg.com/... Gene Munster / @munster_gene : An important point is getting missed in the $AAPL reaction. The base of active devices is now 2.2 billion, up 10% from 2022. Last year it grew at 11%. Similar growth off of a higher base is impressive. They did this while revenue over the past year was down slightly. A... Tero Kuittinen / @teroterotero : Greater China -13% revenue crash... there is no future for Apple in China. The global growth dream is dead. Gene Munster / @munster_gene : $AAPL beat revenue by 2% and China slowed, stock down 2%. China was down 13%. It would have been down around 7% factoring in FX. Most of the Street was expecting it to be down around 5%. China was down 2.5% in Sep-23. Neil Cybart / @neilcybart : Apple FY1Q24 earnings are out. - $119.6 billion of revenue - $2.18 EPS My estimates: - $118.4 billion of revenue - $2.17 EPS Consensus (sell-side analysts): - $117.9 billion of revenue - $2.10 EPS Forums: Hacker News : Apple reports first quarter results r/apple : Apple reports first quarter results MacRumors Forums : Apple Now Has More Than 2.2 Billion Active Devices Worldwide MacRumors Forums : Apple Reports 1Q 2024 Results: $33.9B Profit on $119.6B Revenue