Synopsis
Apple has achieved a remarkable milestone with an installed base of over 2.35 billion active devices globally. The company reported record revenues for its services sector and impressive growth across all product lines, highlighting its strong position in both developed and emerging markets.Key Takeaways
- Active install base exceeded 2.35 billion devices.
- Services revenue reached a record $26.3 billion.
- iPhone revenue remained stable at $69.1 billion.
- Net income reached $36.3 billion.
- Double-digit growth in paid accounts and subscriptions.
New Delhi, Jan 31 (NationPress) The number of active Apple devices has soared to a record high across all product categories and geographical regions, surpassing 2.35 billion devices.
As reported by Apple CEO Tim Cook, the company has achieved an unprecedented revenue milestone in its Services sector for the quarter ending December 31, 2024.
“Over the last year, our services division generated close to $100 billion in revenue. I am also thrilled to announce that we have reached a historic milestone with over 2.35 billion active devices. In October, we introduced the initial set of Apple Intelligence features in the US,” Cook informed analysts.
The revenue for the December quarter was $124.3 billion, reflecting a growth of 4 percent year-over-year.
In the December quarter, Services revenue hit a record of $26.3 billion, an increase of 14 percent compared to the previous year. The company saw growth across all geographical segments, achieving record highs in both developed and emerging markets.
iPhone revenue stood at $69.1 billion, remaining relatively stable compared to the previous year. Revenue from wearables, home, and accessories was reported at $11.7 billion.
The total revenue from products reached $98 billion, marking a growth of 2 percent year-over-year, driven by increases in iPad and Mac sales.
Services gross margin was recorded at 75 percent, improving by 100 basis points sequentially, mainly due to product mix. According to Kevan Parekh, Senior Vice President and Chief Financial Officer, operating expenses were $15.4 billion, aligning with our guidance range, and increased by 7 percent year-over-year.
This impressive performance led to record highs for both net income at $36.3 billion and diluted earnings per share at $2.40, an increase of 10 percent year-over-year.
“The iPhone active install base has reached a new peak across all geographic segments. We also achieved a new record for device upgraders,” Parekh noted.
Both transacting and paid accounts have reached unprecedented levels, with paid accounts experiencing double-digit growth year-over-year. Paid subscriptions also saw double-digit growth.
