Adam Kos Apple has published how it fared in the Christmas season last year. So it's Q4 2023, which is also the first fiscal quarter of 2024. The company reported quarterly revenue of $119,6 billion, up 2% year-over-year. That fits estimates Morgan Stanley, lagged behind CNN Money and beat Yahoo Finance's expectations.
However, the report does not only mention the amount of sales. Apple CEO Tim Cook and CFO Luca Maestri shared more details on how individual products fared and what changes to the company's ecosystem based on EU regulations actually mean in a conference call.
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Ecosystem changes due to the EU
Maestri said the EU accounts for just seven percent of Apple's global App Store revenue, while Cook said the overall impact could not be determined at this time because it is difficult for Apple to predict what customers and developers will choose. It is so interesting what expensive things are done because of 7%.
VisionPro
Maestri mentioned that several major companies are planning Vision Pro applications for their customers and employees, including Walmart, Nike, Vanguard, Stryker, Bloomberg and SAP. "We can't wait to see the amazing things our customers create in the coming months and years, from everyday productivity to collaborative product design to immersive training." he said.
Gallery
Artificial Intelligence
Tim Cook said that Apple is spending a "tremendous" amount of time and effort on artificial intelligence, and that details of its AI work will be released later this year. Logically, this will be the case at WWDC24 in early June. It is quite possible that we will learn more details about the iPhone 16 in September.
Samsung's AI
Services are still growing
Apple's services category generated record revenue of $23,1 billion, up from $20,7 billion. Paid subscriptions grew by double digits year-on-year. The company achieved record revenues in the areas of advertising cloud services, payment services and video, and specifically in the December quarter, also records in the areas of the App Store and AppleCare.
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2,2 billion active devices
According to the report, Apple has 2,2 billion active devices worldwide, i.e. iPhones, iPads and Macs. But wearables didn't do too well over Christmas, even with the new Apple Watch Series 9 and Ultra 2nd generation models here. Year-on-year, they fell from 13,4 to 12 billion dollars. iPads also fell, from $9,4 billion to $7 billion. Macs remained more or less the same, with sales of $7,8 billion vs. $7,7 billion a year ago.
