Apple’s iPhone sales are still going up, Q4 revenue grows year-over-year

While some may be disappointed that Apple didn’t launch the iPhone 16 series alongside Apple Intelligence it seems like the market doesn’t care much. Apple has released its quarterly revenue numbers and it made $94.9 billion (roughly, $132 billion CAD).

This is up six percent from Q4 2023 and the report says that almost all of Apple’s product segments are growing. The only ones not reporting substantial growth are wearables, home gadgets, and accessories.

Apple CEO Tim Cook told CNBC that the sales of the iPhone 15 this quarter were stronger than the iPhone 14 in the same quarter last year, and the iPhone 16 is selling stronger than the 15 did in Q4 2023. This makes sense to me since both the iPhone 16 and 16 Pro series of devices offered more upgrades than their counterparts last year including the Action and Camera Control buttons.

All of that being said, Apple’s net income was down slightly since the company needed to pay a one-time €13 billion (roughly, $19 billion CAD) fee to the EU in back taxes. That said, the company’s services revenue is continuing to climb substantially which has been a growing business for Apple and it’s nice to see that grow from $18 billion USD (roughly, $25 billion CAD) in Q4 2021 to $24 billion USD (roughly $33 billion CAD) in Q4 2024 three years later.

Apple’s income by product are as follows;

• Product – 2024 – 2023
• iPhone – $46.2 billion – $43.8 billion
• Mac – $7.7 billion – $7.6 billion
• iPad – $6.9 billion – $6.4 billion
• Wearables/home/accessories – $9 billion – $9.3 billion
• Services – $24.9 billion – $22.3 billion

All the prices in the small comparison are in USD

You can find the full Apple revenue report here.

Source: Apple, CNBC