Apple Achieves Record Revenues Despite Slower iPhone Sales

Abdullah Mustapha

January 31, 2025

Apple’s holiday quarter is its most profitable period. The three months leading up to December 28, 2024, were no exception. Apple set a new revenue record of $124.3 billion, marking a 4% increase from 2023. Net income also grew to $36.3 billion, proving its strong financial position.

Apple: Strong Performance in Key Markets

Apple saw record-breaking sales in the Americas, Europe, Japan, and the Rest of Asia Pacific. These regions helped drive overall growth. However, sales in China dropped by over $2 billion, raising concerns about Apple’s presence there.

Product and Service Revenue Breakdown

Apple’s Mac lineup earned $8.9 billion, while iPad revenue reached $8.0 billion. The standout performer was Apple’s services division, which includes Apple Music, Apple TV+, and iCloud. This segment hit an all-time high of $26.3 billion, reinforcing its importance to Apple’s future.

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iPhone sales declined slightly. Revenue from iPhones totaled $69.1 billion, down from $69.7 billion the previous year. This small drop suggests challenges such as market saturation and competition.

Future Growth: Apple Intelligence

Despite these challenges, Apple remains optimistic. Apple Intelligence will roll out to more languages and regions in April 2025. The company expects this AI-driven technology to boost growth by enhancing user experiences.

Record-High Active Devices

Apple also confirmed a record number of active devices worldwide. This milestone highlights its vast and loyal customer base, ensuring ongoing demand for its products and services.

In summary, Apple had a strong holiday quarter, despite minor setbacks. While iPhone sales dipped and China’s market posed challenges, services and AI expansion signal a bright future. The company continues to innovate, keeping it well-positioned for 2025 and beyond.

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