Apple earnings: What investors should know about recent revenues, profits

• Apple releases earnings quarterly.
• On calls with investors, CEO Tim Cook addresses Apple's results and trajectory.
• The Q1 2025 call was dominated by discussions about Apple Intelligence.

Apple, the tech powerhouse behind the iPhone, iPad, Mac, and more, and services like Apple TV+, Apple Music, and the App Store, releases its earnings quarterly.

Typically, Apple CEO Tim Cook joins the calls to reflect on the results and discuss the company's future trajectory. Cook and Apple's CFO field questions from analysts to keep investors in the know about the company's financial standing.

The calls usually cover topics like the revenue of Apple products. The iPhone almost always makes up most of the company's overall sales, but it fell in the most recent quarter from the year prior.

Apple's Q2 earnings will be reported on May 1, 2025.

Here's a breakdown of Apple's recent earnings.

Apple Q1 earnings 2025

Apple reported its fiscal first-quarter results on January 30, 2025, beating earnings and revenue estimates. The firm pulled a record $124.3 billion in revenue for the quarter, up 4% year-over-year. Earnings-per-share came in at $2.40, above estimates of $2.35.

Revenue in China, though, missed estimates. The iPhone maker pulled $18.51 billion in revenue from its business in China, lower than the expected $21.57 billion.

The firm has yet to roll out Apple Intelligence in the region, which has contributed to the decline in sales, Cook told CNBC ahead of the earnings call.

On the earnings call, Cook added that he was optimistic about new products Apple has in the pipeline, like newer versions of the iPhone.

He also expressed optimism about AI.

"I do believe it will go mainstream," Cook said about artificial intelligence. "I'm getting feedback from people using different features today. Keep in mind that on the iPhone side of our business, you either have to have an iPhone 15 Pro or iPhone 16 to use Apple Intelligence. As that base grows, the usage will continue to grow."

Apple Q4 earnings 2024

Apple reported its fourth-quarter earnings in October 2024, beating revenue and profit estimates. Revenue for the quarter came in at $94.9 billion, slightly above the expected $94.3 billion. Adjusted earnings per share came in at $1.64, above the estimated $1.60.

The company missed its targets for Greater China. Revenue in the region came in at $15.03 billion, below the estimated $15.8 billion.

On the earnings call, Cook said Apple planned to roll out more AI features in the "coming months," adding that he believed Apple Intelligence was creating a "new era" for the company.

He dodged a question about the impact of the presidential election and potential tariffs on Apple, adding that he didn't want to speculate.

Apple Q3 earnings 2024

Apple held its earnings call for its fiscal Q3 in August 2024, beating estimates. Revenue for the quarter came in at $85.7 billion, above the expected $84.4 billion. Earnings per share came in at $1.40, above the expected $1.35.

iPhone sales may have slowed in Q3, but services soared, and the iPad lineup launched in May received shoutouts from Apple execs. iPad revenue was up 24% year-over-year in the quarter.

Apple Intelligence, announced at the Worldwide Developers Conference in June, was a big talking point during the call. Cook said that its rollout would begin in 2024 and continue in 2025.

Cook said the company was "optimistic" about AI.

Apple Q2 earnings 2024

Apple held its earnings call for its fiscal Q2 in May 2024. Revenue came in at $90.7 billion, slightly above estimates of $90.3 billion. Earnings per share came in at $1.53, above the expected $1.50.

Sales in Greater China were better than expected, but overall iPhone sales fell 10% from the year prior. Apple also announced its biggest stock buyback ever at $110 billion.

Cook praised the Vision Pro headset, which was released on February 2, and said that Apple was "off to a good start" with the device, which was its first major new product line since the Apple Watch.

Apple earnings history

Apple's net revenue for the 2024 fiscal year totaled $391 billion, up 2% year-over-year. Its net income fell slightly to $93.7 billion, down 3% year-over-year.

Apple currently pays a dividend of $0.25 per share.

Jacqui Kenyon contributed to an earlier version of this report.