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Apple reports 1bn subscriptions

January 31, 2025

Apple has announced financial results for its fiscal 2025 first quarter ended December 28th 2024. The company posted quarterly revenue of $124.3 billion (€119.7bn), up 4 per cent year over year, slightly beating estimates.

Mac and iPad revenue exceeded expectations, but iPhone sales dropped – being particularly affected by an 11.1 per cent decline in sales in China.

“Today Apple is reporting our best quarter ever, with revenue of $124.3 billion, up 4 per cent 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.”

During an earnings call, Cook told analysts that the AI tech “will go mainstream”, despite its rocky start. Apple Intelligence is only available on new devices and in a handful of countries, which explains for the slower adoption, Cook said. “Once you start using the features, you can’t imagine not using them anymore,” he added.

Cook also told analysts that the company had over 1 billion subscriptions, which includes both direct subscriptions for services such as Apple TV+ and iCloud, as well as subscriptions to third-party apps through the App Store.

“Our record revenue and strong operating margins drove EPS to a new all-time record with double-digit growth and allowed us to return over $30 billion to shareholders,” added Kevan Parekh, Apple’s CFO. “We are also pleased that our installed base of active devices has reached a new all-time high across all products and geographic segments.”

Shares rose more than 3 per cent in extended trading on January 30th

Categories: Articles, Business, Results

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