Fri, Jan 31, 11:09 AM (17 days ago)
In its Q1 2025 10-Q, Apple Inc. (AAPL) reported a 4% year-over-year increase in total net sales to $124,300,000, driven mainly by a 14% rise in services revenue to $26,340,000. Product sales remained stable, with iPhone sales slightly declining by 1% to $69,138,000. Gross margin improved to 46.9%, up from 45.9% in the prior year, supported by a higher services mix. Operating income rose to $42,832,000, reflecting increased R&D and SG&A expenses, which totaled $15,443,000. Net income for the quarter was $36,330,000, translating to diluted earnings per share of $2.40. Cash flow from operations decreased to $29,935,000, primarily due to changes in working capital. As of December 28, 2024, total assets were $344,085,000, with significant cash and marketable securities holdings of $30,299,000 and $111,069,000, respectively. The company faces uncertainties from macroeconomic factors and ongoing legal challenges, including antitrust lawsuits. Future operations may be impacted by these risks and evolving regulatory environments. Overall, Apple maintains a strong cash position and robust capital return strategy, including $23.3 billion in share repurchases during the quarter.