Apple achieved its highest quarterly revenue milestone in 2024 by generating $124.3 billion in Q1 while showing a 4% growth compared to the previous year. The company achieved strong financial results despite its weak iPhone sales because net income rose to $36.3 billion. The company achieved new revenue records in all major markets, including the Americas, Europe, Japan, and the rest of Asia Pacific.
The iPhone continues as Apple’s primary product, yet its quarterly revenue decreased to $69.1 billion from $69.7 billion during the previous year. The decline in net sales from China amounted to $2 billion, which contributed to the revenue decrease in this significant market for Apple. Apple achieved substantial growth from different business areas, although iPhone sales showed a minor decline. The Mac product line generated $8.9 billion in revenue, and iPads produced $8.0 billion in revenue. Apple’s services sector led all divisions by reaching $26.3 billion in revenue while becoming the company’s most important subscription-based segment.

The company achieved its highest-ever number of active devices across every product category and geographic market, indicating robust customer loyalty and an expanding customer base. The company plans to expand Apple Intelligence, its AI-powered initiative, into additional languages and regions when it launches in April. Cupertino projects that this development will function as a primary growth catalyst until 2025.
The combination of Apple’s diverse revenue sources and its powerful services platform enables the company to achieve ongoing financial success despite iPhone market challenges and Chinese market deceleration. The company demonstrates market adaptability through its profitable growth of its digital ecosystem network.