New Delhi, Jan 31 The installed base of Apple devices has reached an all-time high across all products and geographic segments and is now over 2.35 billion active devices.
According to Apple CEO Tim Cook, the company achieved an all-time revenue record in Services for the period ending December 31, 2024.
“In the past year, we've seen nearly $100 billion in revenue from our services business. I'm also pleased to announce that we reached a new record for our install base with over 2.35 billion active devices. In October, we released the first set of Apple Intelligence features in US,” Cook told analysts.
The December quarter revenue stood at $124.3 billion, up 4 per cent year over year.
Services revenue reached an all-time record of $26.3 billion in the December quarter, up 14 per cent year over year. The company grew in every geographic segment and achieved all-time records in both developed and emerging markets.
iPhone revenue was $69.1 billion, roughly flat to the prior year. Wearables, home, and accessories revenue came in at $11.7 billion.
Overall products revenue was $98 billion, up 2 per cent year over year, driven by growth from iPad and Mac.
Services gross margin was 75 per cent, up 100 basis points sequentially, primarily driven by mix. Operating expenses of $15.4 billion landed at the midpoint of our guidance range and up 7 per cent year over year, according to Kevan Parekh, Senior Vice President, Chief Financial Officer.
This strong business performance resulted in all-time records for both net income at $36.3 billion and diluted earnings per share of $2.40, up 10 per cent year over year.
“The iPhone active install base grew to an all-time high in total in an average geographic segment. We also set an all-time record for upgraders,” said Parekh.
Both transacting and paid accounts reached new all-time highs with paid accounts growing double digits year over year. Paid subscriptions also grew double digits.
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