Breaking Down Apple's Revenue in 2024
What We’re Showing
This infographic breaks down Apple’s $391 billion in revenue for the fiscal year ended September 28, 2024, highlighting revenue by product category and geographic region.
The data comes from Apple’s latest 10-K filing.
Key Takeaways
- The iPhone remains Apple’s biggest revenue driver, accounting for $201.2 billion or 51% of total net sales.
- Services revenue—including the App Store, iCloud, and Apple Music—hit $96.2 billion, up 13% year-over-year.
- Hardware sales besides the iPhone (Mac, iPad, and Wearables) collectively generated $93.7 billion, or 24% of total revenue.
- The Americas led all regions with $167 billion in revenue and a 43% share, followed by Europe at $101.3 billion.
Diving Deeper
Apple’s overall revenue increased by a steady 2% from FY 2023 levels.
However, revenue growth from most product categories remained flat, with iPhone sales increasingly marginally relative to 2023. iPad net sales fell by 6% due to lower sales of iPad Pro and entry-level iPad models. The Wearables, Home, and Accessories segment also saw a 7% decline in net sales.
Meanwhile, Services revenue increased by 13%, primarily driven by advertising, the App Store, and cloud services. Apple’s Services segment is its high-margin offering, with a 73.9% gross margin in FY 2024, as compared to 37.2% in products.
Looking at revenue changes by region reveals that net sales increased in most regions except China, where Apple’s revenue fell by 8% YoY to around $67 billion. On the contrary, Apple’s European revenue grew by 7% in FY 2024.