Apple’s fiscal third quarter of 2024 produced $85.777 billion in revenue, rounded to $85.8 billion, up approximately 4.9% from $81.797 billion a year earlier. The three-month period ended June 29, 2024, and Apple announced the results on August 1. The 4.9% figure applies to revenue—not profit: net income increased about 7.9% to $21.448 billion, while diluted earnings per share rose approximately 11% to $1.40.
Services and iPad supplied most of the growth, while iPhone revenue was nearly flat and Greater China was notably weaker.
What Apple reported for fiscal Q3 2024
Apple calls this period its June quarter. Revenue represents sales; net income represents profit after expenses; and diluted EPS measures profit attributable to each diluted share. Apple described the result as a June-quarter revenue record in its official earnings release.
| Measure | Fiscal Q3 2024 | Fiscal Q3 2023 | Year-over-year change |
|---|---|---|---|
| Total revenue | $85.777 billion | $81.797 billion | +4.9% |
| Net income | $21.448 billion | $19.881 billion | +7.9% |
| Diluted EPS | $1.40 | $1.26 | +11.1% |
The revenue calculation is straightforward: the $3.980 billion increase divided by the prior-year $81.797 billion equals approximately 4.87%, rounded to 4.9%. Apple’s release rounded the increase to 5%.
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EPS grew faster than net income partly because Apple continued reducing its share count through buybacks. That makes EPS growth useful to shareholders, but it should not be treated as a direct measure of sales growth.
What drove the increase
Services was the largest growth engine
Services revenue reached $24.213 billion, up from $21.213 billion, an increase of approximately 14.1%. The category includes the App Store, Apple Music, iCloud, Apple TV+, AppleCare and related businesses. Apple reports Services as one combined category in this release, so it does not show which individual service contributed how much.
Services was Apple’s second-largest reported category after iPhone and supplied most of the company’s incremental revenue growth.
Rank #2
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- PERFORMANCE AND STORAGE — The superfast A16 chip delivers a boost in performance for your favorite activities. And with all-day battery life, iPad is perfect for playing immersive games and editing photos and videos.* Storage starts at 128GB and goes up to 512GB.*
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iPad revenue rebounded sharply
iPad revenue rose to $7.162 billion from $5.791 billion, an increase of approximately 23.7%. The quarter followed the introduction of new iPad Pro and iPad Air models. Those launches provide relevant product-cycle context, but Apple did not formally attribute every dollar of category growth to a particular model.
Mac growth was modest
Mac revenue increased approximately 2.5%, to $7.009 billion from $6.840 billion. The result came as Apple continued transitioning its lineup to Apple-silicon products, although the release does not identify a specific model as the cause.
Growth outside Greater China helped
Revenue increased in the Americas, Europe, Japan and the rest of Asia Pacific. The Americas remained Apple’s largest geographic region.
Rank #3
- WHY IPAD — The 11-inch iPad is now more capable than ever with the superfast A16 chip, a stunning Liquid Retina display, advanced cameras, fast Wi-Fi, USB-C connector, and four gorgeous colors.* iPad delivers a powerful way to create, stay connected, and get things done.
- PERFORMANCE AND STORAGE — The superfast A16 chip delivers a boost in performance for your favorite activities. And with all-day battery life, iPad is perfect for playing immersive games and editing photos and videos.* Storage starts at 128GB and goes up to 512GB.*
- 11-INCH LIQUID RETINA DISPLAY — The gorgeous Liquid Retina display is an amazing way to watch movies or draw your next masterpiece.* True Tone adjusts the display to the color temperature of the room to make viewing comfortable in any light.
- IPADOS + APPS — iPadOS makes iPad more productive, intuitive, and versatile. With iPadOS, run multiple apps at once, use Apple Pencil to write in any text field with Scribble, and edit and share photos.* iPad comes with essential apps like Safari, Messages, and Keynote, with over a million more apps designed specifically for iPad available on the App Store.
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| Region | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Americas | $37.678 billion | $35.383 billion | +6.5% |
| Europe | $21.884 billion | $20.205 billion | +8.3% |
| Greater China | $14.728 billion | $15.758 billion | −6.5% |
| Japan | $5.097 billion | $4.821 billion | +5.7% |
| Rest of Asia Pacific | $6.390 billion | $5.630 billion | +13.5% |
Where Apple struggled
iPhone sales slipped slightly
iPhone revenue was $39.296 billion, down from $39.669 billion, a decline of approximately 0.9%. iPhone still represented roughly 46% of quarterly revenue, but it was not the source of the company’s overall growth. The global decline was modest; the more significant weakness appeared in Greater China.
Wearables, Home and Accessories declined
This combined category generated $8.097 billion, compared with $8.284 billion a year earlier, a decline of approximately 2.3%. It includes Apple Watch, AirPods and other accessories. Because Apple reports the category in aggregate, the release does not identify which individual products drove the decrease.
Greater China was the main regional warning sign
Greater China revenue fell approximately 6.5% to $14.728 billion. That decline was materially worse than Apple’s company-wide growth rate and important because the region is a major market. Contemporary commentary discussed competitive conditions and currency effects; those are possible explanations rather than causes established by the reported figures. The official regional number covers Greater China revenue, not iPhone sales alone.
Rank #4
- WHY IPAD — The 11-inch iPad is now more capable than ever with the superfast A16 chip, a stunning Liquid Retina display, advanced cameras, fast Wi-Fi, USB-C connector, and four gorgeous colors.* iPad delivers a powerful way to create, stay connected, and get things done.
- PERFORMANCE AND STORAGE — The superfast A16 chip delivers a boost in performance for your favorite activities. And with all-day battery life, iPad is perfect for playing immersive games and editing photos and videos.* Storage starts at 128GB and goes up to 512GB.*
- 11-INCH LIQUID RETINA DISPLAY — The gorgeous Liquid Retina display is an amazing way to watch movies or draw your next masterpiece.* True Tone adjusts the display to the color temperature of the room to make viewing comfortable in any light.
- IPADOS + APPS — iPadOS makes iPad more productive, intuitive, and versatile. With iPadOS, run multiple apps at once, use Apple Pencil to write in any text field with Scribble, and edit and share photos.* iPad comes with essential apps like Safari, Messages, and Keynote, with over a million more apps designed specifically for iPad available on the App Store.
- FAST WI-FI CONNECTIVITY — Wi-Fi 6 gives you fast access to your files, uploads, and downloads, and lets you seamlessly stream your favorite shows.
The complete product-category breakdown
| Category | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Products total | $61.564 billion | $60.584 billion | +1.6% |
| iPhone | $39.296 billion | $39.669 billion | −0.9% |
| Mac | $7.009 billion | $6.840 billion | +2.5% |
| iPad | $7.162 billion | $5.791 billion | +23.7% |
| Wearables, Home and Accessories | $8.097 billion | $8.284 billion | −2.3% |
| Services | $24.213 billion | $21.213 billion | +14.1% |
All figures in the table come from Apple’s published results. The mix shows that the quarter was not a broad-based acceleration across hardware: Services and iPad growth offset small declines in iPhone and accessories.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the quarter said about Apple Intelligence
Chief executive Tim Cook highlighted Apple Intelligence, the generative-AI feature suite Apple introduced at WWDC 2024. Apple presented it as an integrated software experience across its platforms, with an emphasis on privacy and personal relevance.
Apple Intelligence was a strategic product initiative, not a separately reported business in this quarter. Apple disclosed no Apple Intelligence revenue and did not quantify a financial contribution. Claims that it would create an AI “supercycle” or guarantee a major upgrade wave were therefore forward-looking expectations, not results demonstrated by fiscal Q3.
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The practical question for investors and users was whether the feature rollout would encourage upgrades to compatible devices in subsequent product cycles.
Cash flow, buybacks and dividends
Apple said it generated nearly $29 billion in operating cash flow during the quarter and returned more than $32 billion to shareholders. The board declared a quarterly cash dividend of $0.25 per share, which was payable August 15, 2024, to shareholders of record on August 12, 2024.
Buybacks help explain why diluted EPS increased faster than net income: the same profit was allocated across fewer diluted shares. That financial effect is separate from the operating performance of Apple’s products and services.
Did Apple beat expectations?
Contemporaneous coverage described Apple’s revenue and EPS results as ahead of Wall Street expectations, including Paul Thurrott’s report. Apple’s own release provides actual results, not the consensus forecast, so any precise estimate comparison depends on which analyst survey and cutoff time are used. A contemporaneous coverage index is available at Techmeme.
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- iPhone demand: Whether the next launch cycle reverses the slight global decline.
- Greater China: Whether regional revenue stabilizes amid competitive, demand and currency pressures.
- Services: Whether double-digit growth continues, even though Apple does not disclose every service separately.
- Apple Intelligence: The timing of feature availability and whether it affects upgrade behavior, rather than appearing as a separately reported revenue line.
- iPad momentum: Whether the strong quarter reflects a durable product-cycle improvement or primarily the timing of new model launches.
Bottom line
Apple’s fiscal Q3 2024 was a diversified but uneven growth quarter. The precise headline is that revenue rose 4.9% to $85.8 billion; profit and EPS grew faster. Services and iPad did the heavy lifting, while slightly lower iPhone revenue, declining accessories and a 6.5% Greater China drop remained the central risks. Apple Intelligence strengthened the forward-looking product story, but it had no separately reported financial contribution in this quarter.
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