Apple reported their first quarter earnings for fiscal year 2025 which extends from October to December of 2024. This is usually Apple’s strongest quarter and the results did not disappoint.
For the quarter, Apple posted revenue of $124.3 billion and net quarterly profit of $36.3 billion, or $2.40 per diluted share, compared to revenue of $119.6 billion and net quarterly profit of $33.9 billion, or $2.18 per diluted share last year.
Apple posted best records during the quarter for total revenue, earnings per share, and services revenue. Revenue was up 4 percent year-over-year, while earnings per share rose by 10 percent. Services, Mac, and iPad sales figures were all up significantly year-over-year, while iPhone and Wearables saw insignificant declines.
Gross margin for the quarter was 46.9 percent, compared to 45.9 percent in the year-ago quarter. Apple also declared a quarterly dividend payment of $0.25 per share, payable on February 13 to shareholders of record as of February 10.
“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.”
Apple’s new CFO, Kevan Parekh added, “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.”
Apple also noted that they now have over 2.35 billion active devices around the world. That’s a lot of iPhones, iPads, Macs and Watches!
Apple took advantage of a rich supply of new product introductions in time for the holidays and the first introduction of Apple Intelligence features.
iPhone sales were down just a bit to $69.1 billion this quarter versus $69.7 billion in Q1 2024, Mac revenue rose to $8.987 billion while services continued to rise with $26.34 billion in sales. Apple noted that it has over 1 billion subscriptions active!
A great quarter for Apple!