Apple has reported latest quarterly revenue of $124.3 billion, up 4% from a year ago and a new all-time quarter revenue record for its fiscal 2025 first quarter ended December 28, 2024.
It posted a net profit of $36.3 billion, up 7.07% YoY and quarterly earnings per diluted share were $2.40, up 10.09% YoY, which are all-time records.
During the earnings call, Apple CEO Tim Cook said that the company has achieved all-time revenue records across the majority of the countries and regions it tracks, including the Americas, Europe, Japan, and the rest of Asia Pacific.
The company continues to see momentum in emerging markets, setting all-time revenue records in a number of markets, including Latin America, the Middle East, and South Asia, among others, he added.
Four new Apple stores in India soon
Tim Cook also said that Apple will be opening more stores in India, where it is seeing incredible growth. The company already announced that it’s going to open four new stores there. Based on earlier reports, the stores will be opened in Bengaluru, Pune, and Delhi-NCR and it will add one more outlet in Mumbai. He said that iPhone was the top-selling model in India for the quarter.
Regarding the supply chain in India, the Apple CEO said that manufacturing in India is for both the domestic market and the export market. “Our business needs certain economies of scale for it to make sense to manufacture in the country,” he added.
Apple Intelligence in more languages
In April, Apple will be bringing Apple Intelligence to more languages, including French, German, Italian, Portuguese, Spanish, Japanese, Korean, and simplified Chinese, as well as localized English to Singapore and India.
The new Apple CFO Kevan Parekh said that Apple sees strong demand in emerging markets. He said that Zomato has deployed 1,000 of Macs across their workforce to foster innovation.
- Products revenue was $98 billion, up 2% from last year, driven by the growth from iPad and Mac
- Installed base of active devices reached an all-time high across all products and geographic segments and is now over 2.35 billion active devices.
- Services revenue set an all-time record of $26.3 billion, up 14% year-over-year, growing in every geographic segment and achieved all-time records in both developed and emerging markets.
- iPhone revenue was $69.1 billion, roughly flat year-over-year. It reached all-time revenue records in several developed markets, including Canada, Western Europe, and Japan and in emerging markets like Latin America, the Middle East, and South Asia.
- According to a recent survey from Kantar during the December quarter, iPhone was a top-selling model in the U.S., Urban China, India, the U.K., France, Australia, and Japan
- iPad revenue was $8.1 billion, up 15% year-over-year, driven by the new iPad Mini and latest iPad Air
- iPad installed base reached another all-time high, and over half of the customers who purchased iPads during the quarter were new to the product
- Mac generated $9 billion in revenue, up 16% year-over-year. Incredible performance was broad-based, with double-digit growth in every geographic segment, said Apple
- The Mac installed base reached an all-time high, with double-digit growth for both upgraders and customers new to the Mac.
- Wearables, Home and Accessories revenue was $11.7 billion, down 2% year-over-year
- Apple Watch installed base reached a new all-time high, with over half of customers purchasing an Apple Watch during the quarter being new to the product.
- Over 1 billion paid subscriptions across the services on the platform. Paid subscriptions also grew double-digits
Speaking on Apple’s FY Q1 2025 earnings results, Apple CEO, Tim 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.