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Apple (AAPL) Q1 FY25 earnings results (first quarter fiscal 2025)
10-Q filed Jan 31, 2025
Apple (AAPL) reported revenue of $124.3B for the first quarter fiscal 2025 (Q1 FY25), +4% from a year earlier and +31% from the quarter before. Operating margin was 34.5%, net earnings $36.3B (29.2% of revenue).
Apple, Q1 FY25: revenue $124.3B (+4% year over year), operating margin 34.5%, net earnings $36.3B, operating cash flow $29.9B. The chart follows the revenue to costs, profit and cash.
| Q1 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $124.3B | +31% | +4% |
| Gross profit | $58.3B | +33% | +6% |
| Operating profit | $42.8B | +45% | +6% |
| Net earnings | $36.3B | +147% | +7% |
| Operating cash flow | $29.9B | +12% | -25% |
| Free cash flow | $27.0B | +13% | -28% |
What changed
Revenue was $124.3B in Q1 FY25, up 4% year over year and up 31% from the previous quarter. iPhone was the largest line at 56% of revenue. Services added $3.2B year over year (up 14%), 68% of the total change. Wearables, Home and Accessories declined 2%.
Gross margin was 46.9%, up 1.0 points from a year earlier. Operating profit was $42.8B, a 34.5% margin (up 0.7 points year over year). Of the extra revenue versus a year earlier, 52% reached operating profit, above the 34% margin then. Operating expenses grew 7% against revenue growth of 4%. Net earnings were $36.3B, up 7% year over year. The effective tax rate was 14.7%.
Operating cash flow was $29.9B (down 25% year over year), 82% of net earnings. Non-cash charges added back $3.1B of depreciation and amortization and $3.3B of share-based compensation. Working capital and other items used $12.8B. Capital expenditures of $2.9B left free cash flow of $27.0B.
Questions
What was Apple's revenue in the first quarter fiscal 2025?
Apple (AAPL) reported revenue of $124.3B for the first quarter fiscal 2025 (Q1 FY25), +4% from a year earlier and +31% from the quarter before.
Was Apple profitable in the first quarter fiscal 2025?
Operating profit was $42.8B (34.5% of revenue) and net earnings $36.3B.
Source: Apple 10-Q on SEC EDGAR.