Apple (NASDAQ:AAPL) has an all time high installed base across all products and geographies and over 2.35 billion active devices. According to Apple CEO Tim Cook, the company had an all time record Services revenue for the quarter 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 said.
$124.3 billion revenue in December quarter, up 4%.
Services revenue was an all time record of $26.3 billion, up 14%. We grew in every geography and hit all time records in both developed and emerging markets.
iPhone was $69.1 billion, flat to last year. Wearables, home and accessories was $11.7 billion.
Overall products was $98 billion, up 2% year over year, driven by iPad and Mac.
Services gross margin was 75%, up 100 bps sequentially, driven by mix. Operating expenses was $15.4 billion, at the mid point of our guidance and up 7% year over year, according to Kevan Parekh, Senior Vice President, Chief Financial Officer.
This strong business performance resulted in all time records for net income of $36.3 billion and diluted earnings per share of $2.40, up 10% 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.
