Apple Reports Record Earnings for the Quarter, Focuses on Indian Market with iPhone Leading Sales

Apple has announced its best quarterly earnings in the company's history, with a revenue of $124.3 billion for the fiscal quarter ending December 28, 2024. This marks a 4% increase compared to the same period last year. During this quarter, the company also reported diluted earnings per share of $2.40, reflecting a 10% growth year over year.

Record Revenue and Strong Performance

In his statements regarding these results, Apple CEO Tim Cook expressed pride in the performance of the company, stating, "Today Apple is reporting our best quarter ever, with revenue of $124.3 billion, up 4% from a year ago." He also highlighted the advancements made possible through Apple silicon, emphasizing how Apple Intelligence enhances user experiences by making apps more personal and intuitive.

Shareholder Returns and Cash Dividend

According to Chief Financial Officer Kevan Parekh, the record revenue and robust operating margins allowed Apple to deliver an all-time high in earnings per share, supporting the return of over $30 billion to its shareholders. As a part of this return plan, Apple announced a cash dividend of $0.25 per share, which is scheduled to be paid on February 13, 2025.

iPhone Dominates Sales and Future Language Expansions

Cook remarked that the iPhone's active install base has reached record levels across various regions. A recent Kantar survey noted that during the December quarter, the iPhone was the top-selling smartphone in major markets including the U.S., urban China, India, the UK, France, Australia, and Japan. Additionally, Apple will expand Apple Intelligence to support more languages, including French, German, Italian, Portuguese, Spanish, Japanese, Korean, and simplified Chinese, starting in April.

Strategic Focus on India Market

Tim Cook emphasized the importance of emerging markets, particularly India, stating, "India set a December-quarter record during the quarter, and we’re opening more stores there." With the iPhone being the best-selling model in India, Cook noted that the country holds significant potential as it is the second-largest smartphone market globally and ranks third for PCs and tablets. He further revealed plans to open up to four additional retail stores in India, signaling Apple's commitment to growing its presence in this key market.

Apple, Earnings, iPhone