AAPL Q3 2024 Earnings — Income Statement Breakdown
For its Q3 2024 period (ending 2024-06-29), AAPL reported revenue of $85.8B, gross profit of $39.7B (46.3% gross margin), operating income of $25.4B, and net income of $21.4B (25.0% net margin). The flow of revenue into costs and profit is visualized below.
What changed
AAPL was profitable; revenue fell 5.5% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | −5.5% | −9.3% | −1.0 pp |
Consensus estimate data is not available for this report.
AAPL Q3 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $85.8B | 100% |
| Cost of Revenue | −$46.1B | 53.7% |
| Gross Profit | $39.7B | 46.3% |
| Research & Development | −$8.0B | 9.3% |
| Selling, General & Administrative | −$6.3B | 7.4% |
| Operating Income | $25.4B | 29.6% |
| Other Income, net | $142M | 0.2% |
| Income Tax Expense | −$4.0B | 4.7% |
| Net Income | $21.4B | 25.0% |
Source: original SEC filing (filed 2024-08-01). Accession 0000320193-24-000080. Data normalized by EarningsFyi.