Apple has announced record-breaking financial results for the first quarter of fiscal 2025, ending 28 December 2024. The company posted quarterly revenue of $124.3 billion, a four percent increase compared to the same period last year. Earnings per share (EPS) rose 10 percent, reaching $2.40.

iPhone sales generated $69.1 billion, down slightly by one percent year-over-year. However, other product categories saw significant growth. Mac sales increased by 16 percent, totaling $8.9 billion, and iPad sales grew by 15 percent, reaching $8.1 billion. Services revenue also rose 14 percent, reaching $26.3 billion.

Despite the slight dip in iPhone sales, Apple highlighted strong customer upgrades, especially for the new iPhone 16 models. Apple’s installed base of active devices also reached an all-time high across all product lines and geographic regions.

“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,” said Apple CEO Tim Cook.

Apple CFO Kevan Parekh noted that the company returned over $30 billion to shareholders and achieved strong operating margins.

“We are also pleased that our installed base of active devices has reached a new all-time high across all products and geographic segments,” he said.

Additionally, Apple declared a cash dividend of $0.25 per share, payable on 13 February 2025.

The company exceeded Wall Street’s revenue expectations, which were $124 billion, and EPS projections of $2.34.