Apple kicked off 2025 with a strong first quarter performance, reporting $124.3 billion in revenue, a 4% increase compared to the same period last year.
The company’s net income hit $36.3 billion, marking a 10% rise, while diluted earnings per share (EPS) reached $2.40, also up 10%.
“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. 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.”
Apple’s services division remained a key driver of growth, generating $26.3 billion in revenue, up from $23.1 billion in the previous year. Meanwhile, the iPhone brought in $69.1 billion, staying roughly flat compared to last year. The Mac and iPad divisions saw gains, posting $9 billion and $8.1 billion, respectively.
Chief Financial Officer Kevan Parekh noted that the company’s strong performance allowed Apple to return over $30 billion to shareholders. The company also declared a cash dividend of $0.25 per share, payable on February 13 to shareholders of record as of February 10.
“We saw that in markets where we have rolled out Apple Intelligence, the year-over-year performance on the iPhone 16 family was stronger than those where Apple Intelligence was not available,” Cook said in an interview with Reuters.
“We continue to work with the regulators and will release it as soon as we can,” said the Apple CEO, referring to Apple Intelligence, set to debut in French and German in April. There’s no timeline on China yet.
Apple’s global market remains solid, with revenue in North America hitting $52.6 billion, followed by Europe at $33.9 billion. While China saw an 11% drop in sales to $18.5 billion, other regions such as Japan and Asia-Pacific saw moderate gains.
Cook said the China dip was due to the smaller stock of reseller inventory.
“The silicon makes it perfect for running AI workloads, and so I assume that that’s a very key compelling reason for people to upgrade,” said Cook, referring to its newest M4 Apple Silicon chips.
This year, Apple is rumoured to finally release an all-new iPhone 17 series line up and not stick to the same old design. Hopefully we see some big changes and a phone worth upgrading to.
In after-hours trading, shares of Apple are up 3%, at $244.74.
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