“Today Apple is reporting strong quarterly results, including double-digit growth in Services,” said CEO Tim Cook, as the company beat analysts’ expectations for the three months ending in March.
The company raked in $95.4 billion in revenue (beating the $94.6 billion estimate), which is a 5% increase year-on-year. The earnings per share for the company were $1.65 (estimates were at $1.62), which is 8% higher than the year-ago quarter.
Services reached an all-time high of $26.65 billion for the quarter, up from $23.87 billion for the same quarter in 2024. This record might not be broken in a while as Apple has been ordered to change its rules about app monetization (which means fewer devs will be paying the 30% tax).
In terms of hardware sales, the iPhone remains the golden goose with $46.84 billion in revenue for the quarter, while Macs, iPads and Wearables (plus home devices) are on a much lower level and around the same as each other.
Sales by region are also an interesting statistic to look at – sales in the Americas, Japan and the Asia-Pacific went up, but sales in Europe and China remained level.
“Our March quarter business performance drove EPS growth of 8 percent and $24 billion in operating cash flow, allowing us to return $29 billion to shareholders,” said Apple CFO Kevan Parekh. Apple has increased the dividend to $0.26 per share (up 4% YoY), which will be paid out on May 15.
The company also announced a massive stock buyback program to the tune of $100 billion.