Record-Breaking Sales for Apple in Q1 of Fiscal 2025
Apple reported its latest quarterly earnings results, setting all-time record sales for the period ending December 2024.
iPhone Sales Remain Strong
During the quarter, Apple generated $69.1 billion in iPhone sales, slightly below the $69.7 billion recorded in Q4 2023. However, CEO Tim Cook highlighted that the iPhone 16 models witnessed strong uptake, with a record number of customers upgrading their devices.
Growth in Mac, iPad, and Services
Mac sales saw a notable increase to $9 billion from $7.8 billion year-over-year. iPad sales also grew, reaching $8.1 billion from $7 billion. Services revenue, including warranty and Apple TV+, experienced significant growth, climbing to $26.3 billion from $23.1 billion.
Home and Accessory Devices See Slight Dip
Home and accessory devices exhibited a slight decline, with sales dropping to $11.7 billion from $12 billion.
Financial Performance Exceeds Forecasts
Wall Street analysts projected earnings per share (EPS) of $2.34 on revenue of $124 billion for the quarter. Apple exceeded expectations by reporting diluted EPS of $2.40 on revenue of $124.3 billion, representing a 10% increase in EPS and a 4% revenue growth compared to Q4 2023.
Best Quarter Ever
"Today Apple is reporting our best quarter ever, with revenue of $124.3 billion," stated Tim Cook. "We thrilled to deliver our best-ever lineup of products and services to customers during the holiday season."
Strong Margins and Shareholder Returns
"Our record revenue and strong operating margins drove EPS to a new all-time record with double-digit growth," added CFO Kevan Parekh. "We are also pleased to have returned over $30 billion to shareholders."
Apple's installed base of active devices reached an all-time high across product lines and regions.