Apple reports record quarterly revenue, iPhone sales dip marginally

Apple

Apple has announced financial results for its fiscal 2025 first quarter ended December 28, 2024. Apple’s quarterly revenue stood at $124.3 billion, up 4 percent year over year.

“Today Apple is reporting our best quarter ever, with revenue of $124.3 billion, up 4 percent from a year ago,” said Tim Cook, Apple’s CEO. “We were thrilled to bring customers our best-ever lineup of products and services during the holiday season.”

The iPhone remains the company’s top earner, generating $69.14 billion in revenue. However, the revenue from iPhone was down 1% compared to the previous quarter.

Mac sales contributed $8.99 billion, while iPad revenue came in at $8.08 billion.

The Wearables, Home, and Accessories segment, which includes products like the Apple Watch and AirPods, brought in $11.75 billion.

Meanwhile, Apple’s Services division, covering subscriptions, app sales, and cloud services, posted an impressive $26.34 billion, underscoring the company’s growing reliance on recurring revenue streams. The revenue from Services was up 4%.

“Our record revenue and strong operating margins drove EPS to a new all-time record with double-digit growth and allowed us to return over $30 billion to shareholders,” said Kevan Parekh, Apple’s CFO. “We are also pleased that our installed base of active devices has reached a new all-time high across all products and geographic segments.”