AAPL Q1 2025 Earnings — Income Statement Breakdown
For its Q1 2025 period (ending 2025-12-27), AAPL reported revenue of $143.8B, gross profit of $69.2B (48.2% gross margin), operating income of $50.9B, and net income of $42.1B (29.3% net margin). The flow of revenue into costs and profit is visualized below.
What changed
AAPL was profitable; revenue grew 15.7% year over year, and EPS beat consensus by $0.19.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | +15.7% | +15.9% | Not available |
| Quarter over quarter | +40.3% | +53.3% | Not available |
EPS was $2.84 versus $2.65 expected.
AAPL Q1 2025 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $143.8B | 100% |
| Cost of Revenue | −$74.5B | 51.8% |
| Gross Profit | $69.2B | 48.2% |
| Research & Development | −$10.9B | 7.6% |
| Selling, General & Administrative | −$7.5B | 5.2% |
| Operating Income | $50.9B | 35.4% |
| Other Income, net | $150M | 0.1% |
| Income Tax Expense | −$8.9B | 6.2% |
| Net Income | $42.1B | 29.3% |
Source: original SEC filing (filed 2026-01-29). Accession 0000320193-26-000005. Data normalized by EarningsFyi.