Key Metrics And Analysis

Apple's Q1 Earnings: Shares Outstanding Decline as Revenue Surges

Key Metrics and Analysis

Decline in Shares Outstanding

Apple Inc. (AAPL) reported a year-over-year decline of 24.1% in its shares outstanding for the quarter ending March 31, 2024. This represents a drop from 15465B to 11792B shares. The decline is primarily attributed to Apple's ongoing share buyback program, which has been aggressively reducing the number of shares available in the market.

Strong Revenue Growth

Despite the decline in shares outstanding, Apple reported a significant increase in its revenue. The company's total revenue for the quarter reached a record $128.4 billion, a 33.4% increase compared to the same quarter last year. This growth was driven by strong demand for the company's iPhone and Mac products, as well as its services segment.

Valuation Measures

As of April 28, 2024, Apple has a market capitalization of approximately $3.3 trillion. The company's price-to-earnings (P/E) ratio stands at 28.9, which is above the industry average. This higher valuation reflects investor confidence in Apple's long-term growth prospects.

Fiscal Year Financial Performance

For the fiscal year ending September 24, 2023, Apple reported total revenue of $468.1 billion, representing a 15.4% increase year-over-year. The company's net income for the fiscal year reached $111 billion, an increase of 12.8%. This strong performance contributed to Apple's status as the world's largest publicly traded company by market capitalization.