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Earnings call: Apple reports solid growth with services hitting record revenue

May 3, 2024

In the latest earnings call, Apple Inc. (NASDAQ:AAPL) announced a significant increase in revenue and earnings per share (EPS) for the second quarter of the fiscal year 2024, with services reaching an all-time high. The company reported $90.8 billion in revenue and an EPS of $1.53.

Despite a competitive market, Apple set revenue records in multiple regions and saw a strong performance in its services sector with a 14% year-over-year growth. CEO Tim Cook highlighted the launch of Apple Vision Pro and upcoming product announcements, while expressing optimism in the Generative AI space. Apple’s financial position remains robust, with a substantial amount of cash on hand and a commitment to return over $27 billion to shareholders.