Apple’s First Quarter Results Revealed On February 1st in a press release, Apple disclosed its fiscal 2024 first-quarter financial performance, encompassing the period ending December 30, 2023. During this quarter, the company reported a revenue of $119.6 billion, marking a 2 percent increase from the previous year. Earnings per diluted share stood at $2.18, reflecting a 16 percent rise year over year. Apple also declares a cash dividend for shareholders of $0.24 per share for the Company’s common stock.
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EPS of Company After Apple’s First Quarter Results Revealed
Revenue from services achieves its highest-ever level, setting a new record. Earnings per share (EPS) increased by 16 percent, reaching an all-time high.
In the Company’s fiscal calendar, the first quarter of fiscal year 2024 lasted for 13 weeks, whereas the first quarter of fiscal year 2023 lasted for 14 weeks.
Apple broadcasted its Q1 2024 financial results conference call live at 2:00 p.m. PT on February 1, 2024, on apple.com/investor/earnings-call, with the webcast available for replay for about two weeks.
Tim Cook Highlights Apple’s Growth and Innovation
Tim Cook, the CEO of Apple, said that revenue increased because more iPhones were sold and that the company made more money from services. He also mentioned that more than 2.2 billion Apple devices are being used now, which is the most ever, and that they’re introducing something new called Apple Vision Pro soon. Cook added that Apple will keep focusing on making new and innovative products for its customers.
Financial Performance of Meta
- Luca Maestri, Apple’s CFO, stated that in the December quarter, the company achieved its highest-ever earnings per share (EPS) of $2.18, marking a 16 percent increase from the previous year.
- The quarter also saw significant margin expansion contributing to the top-line performance.
Cash Flow and Shareholder Returns
- Apple generated nearly $40 billion of operating cash flow during the quarter.
- Approximately $27 billion was returned to shareholders during this period.
Future Outlook and Investments
- Maestri expressed confidence in Apple’s future prospects.
- The company continues to make substantial investments across its business to support its long-term growth plans.
Apple Declares Cash Dividend for Shareholders
Apple’s board of directors has announced a cash dividend of $0.24 per share for the Company’s common stock. Shareholders of record as of February 12, 2024, will receive the dividend, which will be payable on February 15, 2024.
Conclusion
In conclusion, Apple’s First Quarter Results Revealed significant insights into the company’s financial performance. With the declaration of a cash dividend, the announcement of a live streaming event for the financial results conference call, and the details regarding the duration of fiscal quarters, Apple continues to maintain transparency and engagement with its stakeholders. These actions underscore Apple’s commitment to shareholder value, investor communication, and adherence to its fiscal calendar.
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FAQ’s
What were the highlights of Apple’s First Quarter Results Revealed?
Apple’s First Quarter Results Revealed showcased revenue growth driven by iPhone sales, an all-time high in Services revenue, and an active installed base exceeding 2.2 billion devices.
How did Apple perform financially in its First Quarter Results Revealed?
Apple reported a record EPS of $2.18, marking a 16 percent increase year over year, along with nearly $40 billion of operating cash flow generated during the quarter.
What investments did Apple make during its First Quarter Results Revealed?
Apple expressed confidence in its future by continuing to make significant investments across its business to support long-term growth plans, as stated by Luca Maestri, the company’s CFO.
When will Apple’s cash dividend be distributed according to the First Quarter Results Revealed?
The cash dividend of $0.24 per share for Apple’s common stock, as announced in the First Quarter Results Revealed, will be payable on February 15, 2024, to shareholders of record as of February 12, 2024.
Where can I find more information about Apple’s First Quarter Results Revealed?
For more details, including the live streaming of the financial results conference call and webcast replay, visit apple.com/investor/earnings-call.
