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Apple Beats Q3 Expectations with $85.78B Revenue, $1.40 EPS, and 11% EPS Growth

Aug 1, 2024, 08:33 PM

Apple Inc. reported its fiscal third-quarter earnings, surpassing Wall Street expectations. The company achieved a revenue of $85.78 billion, beating the estimated $84.46 billion, and an earnings per share (EPS) of $1.40, exceeding the forecasted $1.35. iPhone revenue was $39.30 billion, slightly above the anticipated $38.95 billion. However, revenue from Greater China fell short at $14.73 billion against an expected $15.26 billion. Apple's Services segment showed significant growth, with revenue increasing by 14% year-over-year to $24.2 billion. The company also recorded a 5% year-over-year increase in overall revenue, marking a new June quarter record. CEO Tim Cook highlighted the strong performance, noting the company's continued growth and resilience. EPS grew by 11%, and the operating margin reached 30%. Additionally, iPad revenue was $7.16 billion.