Apple reports better-than-anticipated Q4 revenue, earnings hurt by EU tax payment

Published On Oct 31, 2024, 4:31 PM

Apple reported its Q4 earnings with revenues reaching $94.9 billion and earnings per share (EPS) of $0.97. The results beat revenue expectations but were impacted by a significant one-time charge related to EU tax payments, which lowered the adjusted EPS to $1.64, above the expected $1.59. Strong iPhone sales provided a silver lining, totaling $46.2 billion despite challenges in other areas like services and competition in China. Apple is also rolling out a new AI platform, which it hopes will further boost device sales in the coming quarters.