This article is published in collaboration with Statista
by Felix Richter
Apple reported slightly better than expected results for the holiday quarter, the first of Apple's fiscal year 2025, on Thursday. The company beat analyst expectations on the top and bottom line, as revenue grew 4 percent to $124.3 billion and net income reached an all-time high of $36.3 billion.
iPhone sales, still at the heart of Apple's business, declined 1 percent to $69.1 billion in the holiday quarter, as the limited availability of Apple Intelligence - perhaps the main reason to upgrade to one of the latest models - had a noticeable effect on sales in the affected regions. That said, it was still the third biggest quarter ever in terms of iPhone sales, which is not a huge surprise as the December quarter is by far the strongest for the iPhone business. As Apple struggles to squeeze more growth out of the iPhone, the company's services business was once again the star of the show, as it grew 14 percent to a new record of $26.3 billion, accounting for almost 70 percent of Apple's total revenue growth in the quarter. Considering that Apple now boasts an installed base of more than 2.3 billion active devices and more than a billion paid subscription across its services, the segment looks like a cash cow for years to come for the company.
Looking ahead, Apple expects to see "low to mid single digit growth" in the March quarter as services are expected to see more double-digit growth. That's assuming the macroeconomic outlook doesn't worsen from today's projections for the quarter.
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