We already knew that Apple’s fiscal Q4 (calendar Q3) quarter set a new revenue record, but were lacking some details. A new report says that the income reflected record iPhone shipments, and the highest ever average selling price (ASP) achieved for the iPhone line-up.
Counterpoint Research shared the data from its latest Market Monitor report …
iPhone 16 launch quarter set a new record
Apple reported its earnings back in October of last year, and said that it set a new revenue record for a September quarter.
Apple has released its earnings report for fiscal Q4 2024. The company reports $94.93 billion in revenue during the three-month period, up 6% year-over-year. This sets a new September quarter revenue record. For comparison’s sake, Apple reported $89.5 billion in revenue in the same quarter last year.
The company said this included a 6% year-on-year increase in iPhone revenue specifically.
Record shipments and ASP, says Counterpoint
Since the company long ceased sharing actual unit sales, we didn’t know whether the revenue increase was down to higher sales numbers or a higher average selling price, but Counterpoint Research says that it was a mix of both.
Apple led in terms of revenues and recorded its highest-ever shipments, revenues and ASPs for a third quarter […] Apple led in terms of revenues and recorded its highest-ever shipments, revenues and ASPs for a third quarter (calendar year).
We still don’t know the relative importance of the two factors, but across the smartphone industry as a whole, increased ASP played a bigger role.
Global smartphone shipments increased by 2% YoY in Q3 2024. Global smartphone revenues rose 10% YoY, driven by a 7% increase in ASP.
So a relatively modest boost in sales, but a larger increase in average spend.
Graphic: Counterpoint
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