Apple posts $124.3Bn revenue in Q1 2025, iPhone sales fall short
Apple has now reported its fiscal first-quarter earnings, exceeding analysis estimates. The company’s total revenue for the quarter rose 4% year-over-year to an all-time high of $124.3 billion, surpassing the estimated $124.12Bn, while its net income clocked a growth of 7.1% to amount to $36.33 billion for the period, compared to $33.92 billion a year ago. Its diluted earnings per share amounted to $2.40 per share, compared to $33.92 billion, or $2.28 per share, in the same period last year, while its gross margin for the quarter was a record 46.9%. The company’s financials for the period was largely driven by strong growth in its services, Mac, and iPad divisions, despite challenges in iPhone sales and declining performance in China. Revenue from iPhones – Apple’s flagship smartphone lineup and the company’s largest business segment – missed projections, falling slightly by 1% to $69.14 billion. It seems that sales of the iPhone 16, released last September and the latest addition to...