Apple Reports Over 1 Billion Subscriptions, $26.3 Billion Services Revenue

Apple reported robust financial results for the first quarter of fiscal 2025, with total revenue reaching $124.3 billion, a 4% year-over-year increase, despite a decline in iPhone sales, particularly in China. CEO Tim Cook highlighted that the company achieved record earnings per share and noted that its services division generated $26.3 billion in revenue, up 14% year-over-year, contributing significantly to overall growth. Apple now boasts over 1 billion subscriptions across various services, including third-party apps from the App Store. The launch of Apple Intelligence has positively influenced customer demand for the iPhone 16, although its absence in China is a concern as sales there fell by 11.1%. Analysts observed that the service sector’s growth is driven by expansions in offerings like Apple Arcade and Fitness+. Despite regulatory scrutiny, Apple’s CFO emphasized the strong performance of its services and ongoing customer engagement.