Apple reports all-time high revenues despite underwhelming iPhone sales in Q1
The holiday quarter is traditionally Apple’s best in terms of earnings, and the three-month period leading up to December 28, 2024, proved to be a historic run. Cupertino’s quarterly revenues peaked at an all-time high of $124.3 billion, which is a 4% year-over-year increase. Net income rose to $36.3 billion as Apple reported record sales figures for its key markets, including the Americas, Europe, Japan and the Rest of Asia Pacific.
Breaking down the performance by category, Apple saw robust revenues for its Mac ($8.9 billion) and iPad ($8.0 billion) lineups, but it was the services sector (Apple Music, TV+ and iCloud) that reached an all-time high revenue of $26.3 billion and served as the major growth driver.
On the other hand, iPhone revenue dipped slightly at $69.1 billion compared to $69.7 billion in 2023. Net sales in China declined by over $2 billion which is another cause for concern. Looking ahead, Apple Intelligence is expected to roll out to more languages and regions in April, and Cupertino hopes it will be a key growth driver throughout 2025. The press release also confirmed an all-time high in active Apple devices across all product and geographic segments.
Reader comments
- JohnIL
Apple manages to make boatloads of money. Looking at everything Apple is holding its own and more on its product segments. I do think on the hardware side of things it does get harder to convince consumers on upgrades. The service sector does well be...
- 2 hours ago
- kkS
- Anonymous
Because Apple devices were the first to become popular for being expensive (although Apple's devices were extremely bad and Apple almost went bankrupt because of this), Apple products are seen as status symbols. Moreover, because Apple is Americ...
- 4 hours ago
- p1g
if people are buying regardless, it should be looked deeply at. why is apple selling so many? whats the recipe? surely they are providing something people want that no other vendors can. please dont bring up that smart people vs dumb debate. a lot...
- 8 hours ago
- pMQ