• Loading stock data...
Monday, July 15, 2024

Apple Posts $117.2B in Revenue With More Live Sports On Deck

  • Apple's net income reached nearly $30 billion.
  • Revenue declined 5.5% year-over-year to $117.5 billion.
Kiyoshi Mio-USA TODAY Sports

Apple recorded its largest annual quarterly revenue decline since September 2016, but it has live sports to look forward to in Q2.

The technology company reported $117.15 billion in first-quarter revenue, falling short of analysts’ estimates of $121.1 billion and marking a 5.5% year-over-year decline. Net income reached nearly $30 billion, a drop from $34.63 billion during the same period the year prior.

  • Apple’s products segment accounts for $96.39 billion of total net sales.
  • Services accounted for the other $20.8 billion.

Apple revealed that it now has 2 billion active devices — up from 1.8 billion last January — which CEO Tim Cook partially attributes to “a lot of first-time buyers in the case of the Apple Watch.”

Its wearables, home, and accessories segment, which includes the Apple Watch, brought in revenue of $13.48 billion.

Ready to Play

MLS Season Pass launched on the Apple TV app on Wednesday as part of the league’s 10-year deal — worth at least $2.5 billion — with Apple. The service will broadcast every live MLS regular-season match, the Audi MLS Cup Playoffs, and Leagues Cup. 

Apple secured a multiyear deal in September to sponsor the NFL’s new Super Bowl halftime show for an undisclosed amount.

In March, the company announced an exclusive deal with MLB for “Friday Night Baseball,” in which Apple TV+ exclusively airs a weekly MLB doubleheader.

Last month, it was reported that Apple was exploring a bid for U.K. media rights to the Premier League.

Copy Link
Link Copied
Link Copied

What to Read

As Another Men’s Golf Major Season Wraps, Still No PGA Tour-LIV Deal

The Open Championship begins Thursday at Royal Troon.
Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
podcast thumbnail mobile
Front Office Sports Today

Warner Bros. Discovery Faces Final Decision on NBA Rights


Featured Today

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
July 7, 2024

The New College Sports Insiders Are Graphic Designers

Joe Tipton and Hayes Fawcett have become premier news-breakers on social media.
Oct 27, 2023; Sacramento, California, USA; A general of the Sacramento Kings logo on the court before the game against the Golden State Warriors at Golden 1 Center.
July 6, 2024

How Sports Went From Private Equity Punchline to Coveted Asset Class

Once an industry punchline, sports are now a coveted asset class.
July 2, 2024

Willie Mays’s Humility Was Key to His Genius

Mays took heat from all sides, and handled it his own way.

Silver Lake to Take Endeavor Private, Ending Tough Stock Market Run

Private equity giant Silver Lake is set to acquire the remaining shares it didn’t already own.
Exterior of Nike Company Store
February 16, 2024

Nike to Lay Off 2% of Its Workforce in Cost-Savings Effort

The sportswear giant hinted at staff cuts in a December earnings call.
February 16, 2024

DraftKings Trends Toward the Black, Buys Lottery App

The sports gambling giant continues to narrow its losses.

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
February 7, 2024

ESPN DTC to Debut by Fall 2025, but Streaming Alliance Hastens Market Entry

Date set for stand-alone version of network, but new joint venture will beat that by a year.
January 22, 2024

They Make Sports Balls—and They Could Be Worth Almost $9 Billion

Amer Sports looks to raise as much as $1.8 billion in the public markets.
A view of a FanDuel sportsbook location.
January 18, 2024

FanDuel Strengthens U.S. Dominance Ahead of NYSE Debut

Flutter posts strong financial results as NYSE shares are set to debut Jan. 29.
The swoosh logo at Nike Eugene.
September 28, 2023

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.