Apple has officially released its latest quarterly earnings results, hitting all-time records for the company’s total revenue and EPS. For its fiscal 2025 first quarter ended December 28, 2024, Apple posted a quarterly revenue of $124.3 billion USD following the 2024 holiday season. The number increased 4% year over year and saw quarterly diluted earnings per share of $2.40 USD, which is up 10% year over year.
The October to December 2024 period marked an all-time high in record-breaking sales for the company. With the help of the launch of the iPhone 16 models, the iPhone pulled in $69.1 billion USD sales in itself, although slightly lower from the $69.7 billion USD in the period ended in December 2023. CEO Tim Cook explained in a call with investors later that Apple set an “all time record” for iPhone customers who chose to upgrade their phones to the latest model. He said, “We’ve never seen a higher level of upgraders before. The install base hit a new all-time high as well. And if you look at the 16 compared to the 15 from launch, which occurred, in September — this is across now two quarters from September to the end of the December fiscal quarter, the 16 outperformed the 15. And so I think you can conclude from that that there are compelling reasons to upgrade.”
As for Mac sales, they saw an increase to almost $9 billion USD, an uptick from the previous year’s $7.8 billion USD. iPad sales also increased to $8.7 billion USD from $7 billion USD, while home and accessories saw a decline from $12 billion USD to $11.7 billion USD. Service revenues from device warranties and streamer Apple TV+ and more grew to $26.3 billion USD. In a letter to shareholders, Cook said, “Today Apple is reporting our best quarter ever, with revenue of $124.3 billion, up 4 percent from a year ago. We were thrilled to bring customers our best-ever lineup of products and services during the holiday season. Through the power of Apple silicon, we’re unlocking new possibilities for our users with Apple Intelligence, which makes apps and experiences even better and more personal. And we’re excited that Apple Intelligence will be available in even more languages this April.”
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