Apple set a new record in services revenue in Q4 2024, but missed expectations for both revenue and earnings.
Apple CEO Tim Cook inaugurated the Apple BKC store in Mumbai in April 2023
Apple reported its fiscal earnings for Q4 2024 on Thursday, and the iPhone maker missed forecasts on revenue and earnings per share (EPS). The latest earnings call showed that Apple's revenue in the previous quarter was up 4 percent year over year to reach $124.3 billion (roughly Rs. 10,76,51,950 lakh), while its EPS rose 12 percent year over year to $1.64 (roughly Rs. 140). The company set a new record for services revenue, which rose to $25 billion (roughly Rs. 21,66,25,000 lakh) in the previous quarter.
During the company's earnings call, Apple CEO Tim Cook said that the company plans to roll out Apple Intelligence features to eligible devices in more regions, as the iPhone maker doubles down on artificial intelligence (AI) features. He also highlighted the company's performance in emerging markets, stating that the company saw 'double-digit' growth in countries like Brazil, Mexico, and India.
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