Tim Cook, CEO of Apple, said, “Today Apple reports strong quarterly results including double-digit growth for Services.” The company beat analyst’s expectations for the three month period ending in March.
The company reported $95.4 billion in revenue, which is a 5% year-on-year increase. The company’s earnings per share were $1.65, compared to $1.62 in the estimates. This is 8% more than the previous quarter.
Services hit a record high of $26.65 for the quarter. This is up from $23.87 for the same quarter of 2024. Apple was ordered to change the rules for app monetization, which means that fewer developers will be paying 30% tax.
The iPhone is still the top hardware seller with $46.84 Billion in revenue. Macs, iPads, Wearables, and home devices are all on the same level.
Apple has increased its dividend to $0.26 a share (up 4% year-over-year), which will be distributed on May 15.
In addition, the company announced a massive $100 billion stock buyback program.
