Q1 25 EPS
$2.40
BEAT +2.56%
Est. $2.34
Q1 25 Revenue
$124.30B
vs S&P Since Q1 25
-4.7%
TRAILING MARKET
AAPL +15.1% vs S&P +19.7%
Market Reaction
Did AAPL Beat Earnings? Q1 2025 Results
Apple kicked off calendar 2025 with a solid earnings beat, posting fiscal first-quarter revenue of $124.30 billion, up 4.0% year over year, and diluted EPS of $2.40, ahead of the $2.34 consensus estimate by 2.56%. The primary engine behind the quarte… Read more Apple kicked off calendar 2025 with a solid earnings beat, posting fiscal first-quarter revenue of $124.30 billion, up 4.0% year over year, and diluted EPS of $2.40, ahead of the $2.34 consensus estimate by 2.56%. The primary engine behind the quarter was a record-setting Services segment, which climbed roughly 14% to $26.34 billion, offsetting modest pressure elsewhere, including a slight dip in iPhone revenue to $69.14 billion from $69.70 billion a year ago and continued softness in Greater China, where sales fell to $18.51 billion from $20.82 billion. Gross margin expanded to $58.27 billion and net income rose to $36.33 billion from $33.92 billion, reflecting improved cost leverage across the business. Apple returned over $30.00 billion to shareholders during the quarter through buybacks and dividends, while its installed base of active devices reached a new high across all geographies. Some analysts, however, view the stock as overvalued relative to long-term iPhone growth prospects given a maturing smartphone market and Chinese headwinds.
Key Takeaways
- • Services revenue reached a new all-time high of $26.3 billion
- • Strong holiday-season demand for product lineup
- • Mac revenue grew year over year driven by Apple silicon-based models
- • iPad revenue increased year over year
- • Installed base of active devices reached a new all-time high across all products and geographic segments
- • Double-digit EPS growth driven by strong operating margins and share repurchases
AAPL YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
AAPL Revenue by Segment
With YoY comparisons, source: SEC Filings
AAPL Revenue by Geography
With YoY comparisons, source: SEC Filings
“Today Apple is reporting our best quarter ever, with revenue of $124.3 billion, up 4 percent from a year ago. 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.”
— Tim Cook, Q1 2025 Earnings Press Release
AAPL Earnings Trends
AAPL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AAPL EPS Trend
Earnings per share: estimate vs actual
AAPL Revenue Trend
Quarterly revenue: estimate vs actual
AAPL Quarterly Results
9 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.94 | $2.01 | +3.61% | $111.18B | — |
| Q1 26 BEAT | $2.67 | $2.84 | +6.37% | $143.76B | — |
| Q4 25 BEAT FY | $1.77 | $1.85 | +4.52% | $102.47B | — |
| FY Full Year | — | $7.46 | — | $416.16B | — |
| Q3 25 BEAT | $1.43 | $1.57 | +9.79% | $94.04B | — |
| Q2 25 BEAT | $1.62 | $1.65 | +1.85% | $95.36B | — |
| Q1 25 BEAT | $2.34 | $2.40 | +2.56% | $124.30B | — |
| Q4 24 BEAT FY | $0.95 | $1.64 | +72.63% | $94.93B | — |
| FY Full Year | — | $6.75 | — | $391.04B | — |
| Q3 24 BEAT | $1.34 | $1.40 | +4.48% | $85.78B | — |
| Q2 24 BEAT | $1.50 | $1.53 | +2.00% | $90.75B | — |