Hanmi Semicon Shares Surge After $33 Million SpaceX Investment 
Wizz Air Beats Profit Forecast as Cost Controls Offset Industry Challenges 
BHP Port Hedland Workers Back Strike Action Amid Pay Dispute 
J.P. Morgan Sees Major Upside for Prysmian as Optical Fiber Prices Surge 
SpaceX IPO Sets Record With $75 Billion Raise, Valuation Hits $1.77 Trillion 
Sigma Healthcare Shares Slide Amid Preliminary Boots Acquisition Talks 
EngineAI Files for Hong Kong IPO Amid Rising Demand for AI and Robotics Stocks 
Apple Unveils Enhanced Apple Intelligence and Next-Generation Siri at WWDC 2026 
Adobe Beats Q2 2026 Estimates, Raises Full-Year Outlook as AI Revenue Surges Despite Stock Drop 
OpenAI Files Confidential IPO Draft as AI Giants Race Toward Public Markets 
Oracle Stock Falls Despite Earnings Beat as Company Plans $40 Billion Financing for FY2027 
Meta Partners With Reliance to Launch First AI-Powered Data Center in India 
GSK Reportedly Nears $9 Billion Acquisition of Cancer Drug Developer Nuvalent 
Trump Administration Defends Anthropic AI Restrictions in Ongoing Federal Lawsuit 
SpaceX IPO Demand Surges Past $250 Billion Ahead of Historic Market Debut 
Asics Considers Onitsuka Tiger Spinoff as Luxury Sneaker Brand Expands Globally 
Astera Labs and Rocket Lab Surge After Nasdaq-100 Inclusion Announcement 
Apple posted a solid financial performance in Q3 2024, reporting a profit of $21.4 billion on $85.8 billion in revenue. The earnings call highlighted new hardware releases and solid gains in multiple segments, exceeding Wall Street's expectations.
Apple's Q3 2024 Profit Surpasses Expectations, Driven by New Hardware Releases Despite iPhone Revenue Dip
Apple's Q3 2024 earnings call showcased a solid financial performance driven by the release of new hardware. The California-based company reported a profit of $21.4 billion on revenue of $85.8 billion, surpassing Wall Street's expectations in all segments. However, as the source will soon discuss, not all categories outperformed the previous quarter.
The technology giant's revenue in the third quarter of 2024 exceeded the $81.80 billion it generated in the same quarter a year prior, and its earnings per share increased to $1.40 from $1.26 in the third quarter of 2023. According to Wccftech. the iPhone segment of Apple's Q2 2024 earnings, which accounted for 50.6 percent of the total revenue at $45.96 billion, generated a reduced revenue of $39.3 billion, or 45.7 percent of the total. This figure may have exceeded Wall Street's projections; however, it is less than the $39.67 billion Apple generated in Q3 2023.
New iPad Launches Boost Apple's Q3 2024 Earnings, Services Revenue Continues to Grow Steadily
Apple was fortunate to receive a financial cushion due to the M2 iPad Air and M4 iPad Pro launches. The Mac range generated $7.01 billion, a modest increase from the $6.84 billion it generated in Q3 2023, while the new tablet releases generated $7.16 billion, up from $5.79 billion a year ago. In the Wearables, Home, and Accessories category, Apple's Q3 2024 earnings showed a revenue of $8.09 billion, a decrease from $8.28 billion a year ago.
The Services segment once again proved to be a reliable source of income for Apple, with its revenue increasing from $21.21 billion in Q3 2023 to $24.2 billion. This growth underscores the segment's importance in Apple's revenue stream. Apple's gross margin for the quarter was 46.3 percent, a slight decrease from 44.5 percent a year ago.
