Archive · 31 Jul 2026
Apple Beats Expectations With Strong Q2 Sales Quarter
Apple, a big computer and phone company, sold a lot of iPhones and Macs in the last three months of 2024.
They made more money than people thought, with $109.4 billion in sales and $29.8 billion in profit.
The company got extra money back from old taxes that were cancelled by the Supreme Court.
Apple’s boss, Tim Cook, said this would be his last earnings report as CEO.
A new boss, John Ternus, will take over on September 1.
Apple also raised prices for some products because computer parts cost more, and they started a new plan that lets people pay for phones in small monthly payments.
Apple reported $109.4B revenue, up 16% YoY, and $29.8B profit, up 27%.
iPhone sales rose 22% to $54.3B, Mac revenue up 29%, services grew 12% to $30.7B.
Apple’s earnings were helped by tariff refunds from the Trump era, now overturned by the Supreme Court.
CEO Tim Cook announced this would be his final earnings report; John Ternus will become CEO on Sept. 1.
Apple raised Mac and iPad prices due to rising memory chip costs, while launching a leasing program called Apple Upgrade.
- Who
- Apple Inc. and its CEO Tim Cook
- What
- Apple reported Q2 earnings that beat market expectations
- When
- April–June 2024 quarter, announced July 2024
- Where
- Cupertino, California and global markets
- Why
- Strong iPhone demand, tariff refunds, and robust sales across regions
- Revenue
- $109.4 billion
- Net income
- $29.8 billion
- iPhone revenue
- $54.3 billion
- Services revenue
- $30.7 billion
- CEO transition
- Tim Cook to John Ternus effective Sept. 1, 2024
