2024

Apple

Epic

Leading American tech company <a rel="noopener noreferrer nofollow">Apple</a> has <a href="https://www.apple.com/newsroom/2025/01/apple-reports-first-quarter-results/" rel="noopener noreferrer nofollow">reported an all-time revenue high of $124.3 billion</a> for the first quarter of 2025 ended December 28, 2024, representing a 4 per cent YoY increase. The iPhone maker revealed that its services such as App Store, iCloud, Music, TV+, and other subscriptions generated $100 billion in revenue over the past year.&nbsp;Apple Chief Executive Officer, Tim Cook during Thursday’s earnings call said that the company is reporting its best quarter ever as customers’ engagement in both transactions and paid accounts is a big factor.&nbsp;“We were thrilled to bring customers our best-ever lineup of products and services during the holiday season. Through the power of Apple silicon, we’re unlocking new possibilities for our users with Apple Intelligence, which makes apps and experiences even better and more personal. And we’re excited that Apple Intelligence will be available in even more languages this April,” he said. &nbsp;<figure class="wp-block-image size-full is-resized"><img width="474" height="355" src="https://technext24.com/wp-content/uploads/2025/01/Tim-Cook.jpeg" alt="Apple Chief Executive Officer, Tim Cook" class="wp-image-243955"><figcaption class="wp-element-caption"> Apple Chief Executive Officer, Tim Cook </figcaption></figure>Apple also reported having more than 1 billion subscriptions across its services, including through third-party apps in the App Store. Its paid accounts and subscriptions both grew by double digits year over year.Pointing at new programs, the company reflected on the expansions of its specific offerings like Apple Arcade, which continues to add games and Fitness+. It also made remarks on Apple’s <a href="https://www.apple.com/business/tap-to-pay-on-iphone/" rel="noopener noreferrer nofollow">Tap to Pay</a> for iPhone, which is now live in 20 markets.The positive-looking financial statement comes amidst a time <a href="https://technext24.com/2025/01/13/apple-loses-sales-shares-android-makers/#google_vignette" rel="noopener noreferrer nofollow">when the smartphone maker saw its 2024 sales share slip to fellow Chinese Android makers</a>.In a report by the Counterpoint Research data analytical report for 2024, the global smartphone leader sold fewer iPhones compared to Android rivals which reflects a decline in Apple’s Intelligence presence in its largest market outside the U.S.&nbsp;The company slipped a point to 18 per cent market share in 2024 and experienced a 2 per cent sales decline for the full year when the broader market rose by 4 per cent globally.<figure class="wp-block-image size-full"><img width="800" height="447" src="https://technext24.com/wp-content/uploads/2022/09/Iphone-14.jpg" alt="Apple launches new products in the iPhone 14 #AppleEvent" class="wp-image-155970"></figure>South Korean rival Samsung Electronics was also caught in the Red Sea after it gave up share to faster-growing Android device makers from China such as Xiaomi and Vivo.The Top 10 saw Lenovo Group’s Motorola, Shenzhen-based Huawei Technologies, and Honor Device among the fastest-growing brands, the report explained.&nbsp;<h4 id="apples-subscribers-base-and-regulatory-impact" class="wp-block-heading">Apple’s subscribers base and regulatory impact</h4>With more than 1 billion subscriptions across its various platforms, Apple is thriving. Maybe for now.&nbsp;Following the emergence of Trump’s administration in the United States, investors have been projecting how a new regulatory environment could impact its subscribers’ figures.While investors didn’t outright ask about the Trump administration’s impact on the tech company’s revenue directly, their concern focused on whether new regulatory changes could be beneficial.&nbsp;In response, Apple’s CFO, Kevan Parekh, reiterated the positive numbers for its various services and added that customer engagement was increasing across the customer base, service offerings, and geographic regions.&nbsp;“We are also pleased that our installed base of active devices has reached a new all-time high across all products and geographic segments,” he added.<figure class="wp-block-image size-full"><img width="800" height="400" src="https://technext24.com/wp-content/uploads/2023/07/App-Store.png" alt="Apple to update app price &amp; in-app purchase by July 25th. What app developers need to know?" class="wp-image-201880"><figcaption class="wp-element-caption"> Apple Store </figcaption></figure>For years, the California-based firm has defended itself over antitrust lawsuits and other governmental actions across various markets. The core debate has centred on how much of a percentage Apple is justified to take from the apps it hosts on its App Store and the transactions that flow through them.Last year <a rel="noopener noreferrer nofollow">Epic Games</a>, an American video games and software developer, filed an antitrust case with claims of Apple monopolistic operations. The U.S. Supreme Court <a href="https://techcrunch.com/2024/01/16/supreme-court-declines-to-hear-apple-epic-antitrust-case-meaning-developers-can-point-customers-to-the-web/" rel="noopener noreferrer nofollow">declined to hear an appeal</a> after a lower court ruled that the tech giant is not operating as a monopoly.However, the decision did mean the smartphone maker has to allow app makers to steer customers to the web from links inside their apps.Meanwhile, Epic won a similar case with Google that was tagged as a “partial victory”. Other app developers may have been inspired to pursue their legal actions against Apple or Google, hoping to reduce the dominance of these leading tech giants.&nbsp;Also Read: <a href="https://technext24.com/2024/11/20/google-may-be-forced-to-sell-off-chrome/" rel="noopener noreferrer nofollow">Google may be forced to sell Chrome for up to $20 billion</a>.

Apple records an all-time high revenue of $124.3 billion for quarter ending Dec 2024

Technext.ng

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