Apple posts record revenue, net income

US tech giant Apple reported record-breaking revenue and net income for the three-month period ending Dec. 28, 2024, marking the first quarter of fiscal 2025.

Apple's revenues rose 4% year-on-year to $124.3 billion, up from $119.6 billion in the same period last year, according to figures released by the company on Friday.

Net income also grew 7%, reaching $36.3 billion.

Earnings per share (EPS) rose from $2.18 to $2.40 for the period.

"Our record revenue and strong operating margins drove EPS to a new all-time record with double-digit growth and allowed us to return over $30 billion to shareholders," said Kevan Parekh, Apple's chief financial officer.

"We are also pleased that our installed base of active devices has reached a new all-time high across all products and geographic segments," he added.

But iPhone sales dipped slightly by about 1% year-on-year to $69.1 billion in the period of three months ending Dec. 28.

In contrast, Mac computer sales grew by 16% to $8.9 billion, and iPad sales saw a 15% jump to $8.1 billion.