After market hours on February 1 (local time), Apple (AAPLus）、meta（meta.US), Amazon (AMZNUS) have disclosed their latest financial reports.
Among them, Apple released its performance report for the first quarter of fiscal year 2024 (that is, the fourth quarter of the 2023 calendar year), with a number of indicators performing well, but some data are not so good. WhileIts stock price was up 2 percent after hours92%。
Revenue increased in the first quarter, and the profit side performed well
According to the financial report, in the first quarter of fiscal year 2024, Apple achieved revenue of 1195$7.5 billion, up 2% year-on-yearIt exceeded market expectations and ended the previous four consecutive quarters of negative year-on-year growth.
Apple CEO Tim Cook saidThe increase in revenue for the quarter was mainly due to iPhone sales and record revenue in the services sector.
Specifically, in the first quarter of fiscal year 2024,Apple's revenue increased by 5 percent year-over-year97% to 697US$0.2 billion; Apple's revenue increased slightly by 058% to 77$8 billion; Revenue from iPad products fell 25% year-on-year26% to 70US$2.3 billion; Revenue from wearables, home and accessories decreased by 1134% to 119$5.3 billion.
All of the above are grouped into product business categories by Apple.
WhileThe service business category achieved revenue of 231$1.7 billion, up 1132%，The growth rate was weaker than the previous quarter's 163%。
It is reported that Apple's services include the App Store, audio and streaming Apple Music and Apple TV+, advertising revenue from the Google search engine license agreement, Apple Pay and other product payment fees, etc.
The service business is an extension of Apple's hardware products. According to the latest financial report, Apple's installed base of active devices has exceeded 2.2 billion, which is the reason why the revenue of the service business has reached a record high.
At the same time, the record high revenue of the service business also fully shows that Apple is not only selling well in hardware, but also selling wellI also did a good job in the "software" section and continued to earn this part of the money. This is also part of the reason why Apple's profitability is significantly higher than that of several domestic mobile phone giants.
However, this trend may be blocked! On January 25, Apple's official website announced that in order to comply with the European Union's Digital Markets Act (DMA), it will implement major updates to the iOS system, Safari browser and App Store in the European Union.
For the first time, the overhaul will allow customers to download software from outside of the Apple App Store. People will also be able to use other payment systems and it will be easier to choose a new default web browser.
In addition, the new reform requires Apple to reduce the maximum commission on developers from 30% to 17%, and after a year, the commission percentage will be reduced to 10% for most developers and subscribers.
The above adjustments are currently only for the EU region, and the impact on service revenue may be shown in the following results.
On the profit side, in the first quarter of fiscal year 2024,Apple's net profit increased by 13% year-on-year06% to 339$200 million, also exceeding expectations. Diluted earnings per share were 2$18 or a year-on-year increase of 16%.Exceeded expectations and hit an all-time high.
Apple's chief financial officer said that the strong profit performance during the period was due to revenue performance and profit margin growth.
The data also shows that in the first quarter of fiscal 2024,Apple's gross margin was 459%，That's more than 45 in the previous quarter2%, also exceeding expectations.
In addition,Apple's board of directors declared a cash dividend of 0. per share of the company's common stock$24. The dividend will be paid on February 15, 2024 to shareholders of record as of the close of business on February 12, 2024.
The performance of Greater China is not good, and the iPhone is hit?
It should be pointed out that Apple's latest quarterly earnings report is not all good news, and its poor performance in Greater China has also attracted attention.
Specifically, in the first quarter of fiscal year 2024,The Americas market achieved revenue of 504300 million US dollars, a year-on-year increase of 234%, which is still the largest place in terms of Apple's revenue; Revenue from the European market increased by 9% year-over-year81% to 303$9.7 billion; Japan contributed 77$6.7 billion, an increase of 1498%；The Rest of Asia Pacific achieved revenue of 101$6.2 billion, up 658%。
It is not difficult to find that in the above markets, Apple's revenue has ushered in growthJapan was the only market to achieve double-digit revenue growth.
It is worth mentioning that the former luxury giant LVMH (LVMHFUS) announced its results for the fourth quarter and full year of 2023Japan was also the best performing market with revenue surging 28% year-on-year.
It can be seen that the explosion of Apple products in Japan is not accidental.
In Greater China, though, Apple seems to be getting cold.
The data shows that in the first quarter of fiscal year 2024,Greater China achieved revenue of 208$1.9 billion, down 1291%，It was the only market that was in decline.
The reason for this situation may be that the Huawei Mate60 has been sold well and has seized a part of Apple's mobile phone market share. In addition, Xiaomi Group (01810HK) has also exploded in the Xiaomi 14 series, and its impact should not be underestimated.
Agency data shows that in the fourth quarter of 2023 (that is, the first quarter of fiscal year 2024), Apple in China's mobile phone industry with 1501The number of activations of 160,000 units ranked first, but the number of activations for the whole quarter decreased by 10 percent year-on-year6%。In December, the difference between the share of Apple, which ranked first, and Xiaomi, which ranked second, was just 018%。
In 2023, Cook announced that China would become the world's largest iPhone market.
Who knew that the "slap in the face" came so quickly. Apple's CFO also said that the company is not satisfied with the performance of Greater China, but also knows that China is the most competitive smartphone market in the world, but the company still sees significant opportunities in China.
Conclusion
In his latest quarterly earnings report, Tim Cook also said that Apple remains committed to pursuing breakthrough innovations based on our values and on behalf of our customers as customers begin to experience the incredible Apple Vision Pro tomorrow.
It is understood that this product has been built in-house in Apple for many years, and the price is expensive and the attention is extremely high.
Apple's official website shows thatThe Apple Vision Pro is available from $3499 in the United StatesThe storage space is 256GB, which is far more than the iPhone.
Apple opened the pre-sale of Vision Pro in the United States on January 19, and the official website was crowded in 5 minutes, and the delivery date of the 2-hour order has been scheduled to April.
Although the reviews are mixed, the subsequent development of this new product may have a significant impact on Apple's performance, and it is worth continuing to track.
Author: Yan XIV.