Apple announces record quarterly earnings of $36 billion
Tim Cook, CEO of the company, highlighted the company's performance during the recent holiday season.
(AFP) Apple made $124.3 billion in the fourth quarter of 2024, with a record net profit of $36.3 billion.
However, sales of its flagship product, the iPhone, were lower than expected. Its first range of smartphones with generative artificial intelligence (AI), the iPhone 16s, is progressing slower than expected, particularly in China.
In total, revenue from this product reached $69 billion during the fourth quarter.
"Today Apple reports our best quarter to date, with revenue of $124.3 billion, up 4% year-over-year," Tim Cook said in a statement, also highlighting the company's strong performance in the recent holiday season.
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