Apple Inc. (NASDAQ: AAPL) on Thursday reported stronger-than-expected profit and revenue for the first quarter of 2024. Earnings and revenues increased year-over-year.
The Cupertino-based tech giant said first-quarter profit rose to $33.92 billion or $2.18 per share from $30.0 billion or $1.88 per share in the year-ago period. Analysts had forecast a lower earnings number.
Revenues came in at $119.6 billion in the December quarter, vs. $117.2 billion in the corresponding period of 2023. At $69.7 billion, sales of iPhone were up 6% year-over-year. The top line also beat estimates.
“We are pleased to announce that our installed base of active devices has now surpassed 2.2 billion, reaching an all-time high across all products and geographic segments,” said Apple’s CEO Tim Cook.
