Apple announced today that it earned a net income of $25 billion on revenues of $97 billion for the quarter ending March 26. Revenues were up 5 percent year-over-year (YOY).
“This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” Apple CEO Tim Cook said. “We are delighted to see the strong customer response to our new products, as well as the progress we’re making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world, both in what we create and what we leave behind.”
The iPhone was again Apple’s biggest business by far, delivering $50.6 billion in revenues, a gain of 5.5 percent YOY; the iPhone represented 52 percent of Apple’s revenues. Services was Apple’s second-biggest business and the one with the biggest growth, about 17 percent YOY.
The Mac delivered another $10.4 billion in revenues (up 12 percent YOY), while Wearables, Home, and Accessories added $8.8 billion (up 12.8 percent YOY). The iPad brought up the rear with $7.6 billion in revenues, down 2.6 percent YOY. (That was the only Apple business that earned less than in the year-ago quarter.)