• Loading stock data...
Saturday, July 20, 2024
Join us this September for Tuned In Request to Attend

Fitness Drives Apple to Record Quarter

  • Apple's wearables segment, which includes its fitness watches, posted $9.6 billion in revenue in Q4.
  • It surpassed Wall Street estimates of $8.8 billion.
Gary A. Vasquez-USA TODAY Sports

The largest public company in the world has kept up its momentum despite uncertainty in the tech industry and a large investment in sports. 

Apple reported record fourth-quarter revenue of $90.1 billion — an 8% increase year-over-year — for the period ending Sept. 24. The tech giant’s wearables segment, which includes its fitness watches, posted $9.6 billion in revenue compared to Wall Street estimates of $8.8 billion. 

The California-based company — whose market cap is $2.32 trillion — continued to build its sports offerings and workforce in Q4.  

  • Apple TV+ aired MLB games via its “Friday Night Baseball” package this season.
  • In August, Apple had 60 jobs with the word “sports” in the title or description. 

In June, Apple agreed to a landmark deal worth at least $2.5 billion with MLS, which will see Apple exclusively stream every match for 10 years starting in 2023. 

As part of the deal, Apple will also stream League Cup matches, select MLS Next Pro and MLS Next matches, and a weekly live-match whiparound show. 

Boost from The Big Game

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

NBC’s broadcast of the Super Bowl LVI halftime show drew 120 million viewers. 

Apple replaced Pepsi, which had held rights to the halftime show for the last 10 Super Bowls.

The company has also expressed interest in acquiring a minority stake in NFL Media, which includes NFL RedZone, NFL Network, and NFL.com.

Copy Link
Link Copied
Link Copied

What to Read

A’s Stadium Site Demolition Begins, but Many Questions Remain

Questions remain regarding each of the three main components of the ballpark financing.

St. Pete Approves $1.3 Billion Rays Stadium, Ending Relocation Rumors

St. Petersburg’s city council formally approves the MLB club’s $1.3 billion stadium plan.

WBD at a Crossroads: NBA Rights Decision Could Determine Its Future

Financial analysts argue for a large-scale overhaul of the TNT Sports parent company.

Open Championship CEO Raises Alarm Over Golf’s Financial Future

The Open Championship is offering a record $17 million purse.
podcast thumbnail mobile
Front Office Sports Today

‘EA Sports College Football 25’: It’s More Than a Game


Featured Today

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Apr 15, 2024; Brooklyn, NY, USA; Caitlin Clark poses with WNBA commissioner Cathy Engelbert after being selected with the number one overall pick to the Indiana Fever during the 2024 WNBA Draft at the Brooklyn Academy of Music.
July 16, 2024

Women’s Sports Merch Is a $4 Billion Market, but Supply Isn’t Meeting Demand

Retailers can’t make women’s sports apparel fast enough.
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.
July 14, 2024

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.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
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.

How Sports Went From Private Equity Punchline to Coveted Asset Class

Once an industry punchline, sports are now a coveted asset class.
February 16, 2024

DraftKings Trends Toward the Black, Buys Lottery App

The sports gambling giant continues to narrow its losses.
April 2, 2024

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.

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

2K sports is reviving a classic with TopSpin 2K25.
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 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.