Apple said net sales in the Americas, Europe and Japan increased in Q1 (the 3 months ended December 28, 2024) compared to the same quarter in the prior year, while Greater China net sales decreased due to lower iPhone net sales. The company said iPhone net sales were relatively flat compared to the same quarter in the prior year.

1. 01

   Apple said net sales in the Americas, Europe and Japan increased in Q1 (the 3 months ended December 28, 2024) compared to the same quarter in the prior year, while Greater China net sales decreased due to lower iPhone net sales. The company said iPhone net sales were relatively flat compared to the same quarter in the prior year.

2. 02

   Apple said Services gross margin increased in Q1 compared to the same quarter in the prior year, citing higher Services net sales and a different Services mix as factors. The company said Services gross margin percentage also increased, while Products gross margin percentage was relatively flat compared to the same quarter in the prior year.

3. 03

   Apple said it paid €11.0 billion ($11.9 billion) to Ireland in Q1 in connection with the State Aid Decision, and as of December 28, 2024 the remaining obligation was €3.3 billion ($3.4 billion). The company said the funds were held in escrow and restricted from general use.

4. 04

   Apple said it repurchased $23.3 billion of its common stock and paid dividends and dividend equivalents of $3.9 billion in Q1. The company said its quarterly cash dividend as of December 28, 2024 was $0.25 per share, and the share repurchase program does not obligate the company to acquire a minimum amount of shares.

Key figures

Quarter ended December 28, 2024

Revenue

$124.3B

Operating income

$42.8B

Net income

$36.3B

EPS

$2.40

Gross profit

$58.3B

Operating cash flow

$29.9B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.