Apple has announced its best-ever quarterly performance, with a record revenue of $124.3 billion for the first quarter of fiscal 2025. A key highlight of the quarter is Apple's expanding ecosystem, now boasting over 2.35 billion active devices worldwide.

As per the company's latest quarterly report, which corresponds to the fourth calendar quarter of 2024, the company's latest revenue marks a 4% increase from the same period last year, and earnings per share rose by 10%, reaching $36.3 billion, or $2.40 per share.

With over a billion paid subscriptions, Apple's services segment, including Apple Music, iCloud, and the App Store, contributed significantly to the revenue growth, reaching $26.3 billion—up 14% year-over-year.

In hardware, Mac sales saw a 15.5% increase to $9 billion, driven by strong demand for the latest models featuring Apple's custom chips, says Apple. The iPad also posted impressive growth, with a 15.2% increase in revenue to $8.1 billion, owing to a surge in new customers.

Although iPhone revenue dropped slightly by 0.8% to $69.1 billion, the iPhone 16 family set sales records in markets like Japan, Canada, and parts of Europe. In the official report, Tim Cook, Apple's CEO, pointed out that regions where Apple's AI-driven features were available saw stronger iPhone sales.

Apple also faced challenges in certain markets, including a decline in revenue from China by 11%, partly due to changes in channel inventory. However, emerging markets like India showed strong growth, with the iPhone becoming the top-selling smartphone there during the quarter, states Apple's latest reports,

Looking ahead, Apple says that the company expects modest revenue growth despite challenges such as foreign exchange rates.