AAPL Q1 2025 Earnings

Call Details

• Call Title: Apple Inc. Q1 2025 Earnings Call
• Date: January 30, 2025 at 10:00 PM UTC
• Management Team:
  • Suhasini Chandramouli (Director of Investor Relations)
  • Tim Cook (Chief Executive Officer)
  • Kevan Parekh (Chief Financial Officer)

Call Summary

Financial Performance

• Company revenue for the December quarter was $124.3B, up 4% year over year and an all-time record.
• Diluted EPS was $2.40, up 10% year over year and an all-time record.
• Products revenue was $98B, up 2% year over year, driven by Mac and iPad growth.
• Services revenue was $26.3B, up 14% year over year and an all-time record.
• iPhone revenue was $69.1B and was described as roughly flat to the prior year.
• Mac revenue was $9B, up 16% year over year, with double-digit growth across regions.
• iPad revenue was $8.1B, up 15% year over year, with over half of purchasers new to iPad.
• Wearables, home and accessories revenue was $11.7B, down 2% year over year.

Guidance

• March quarter revenue is expected to grow low to mid-single digits year over year assuming no worsening of the macro outlook.
• Foreign exchange is expected to be a headwind of about 2.5 percentage points on year-over-year revenue growth for the March quarter.
• Services revenue is expected to grow low double digits year over year for the March quarter.
• Company gross margin is expected to be between 46.5% and 47.5% for the March quarter.
• Operating expenses are expected to be between $15.1B and $15.3B for the March quarter.
• Other income and expense (OINE) is expected to be around negative $300M excluding mark-to-market of minority investments.
• The tax rate is expected to be around 16% for the March quarter.
• Guidance and commentary assume the current macro outlook and explicitly note FX and other puts and takes such as mix and cost dynamics.