Reported quarterly revenue: ~$111 billion, so a 17% year-over-year increase.

Diluted earnings per share: ~$2. 22% increase compared to the same quarter last year.

Operating cash flow: surpassed $28 billion. Record for a March quarter.

iPhone: Record March-quarter revenue of ~$57 billion, heavily supported by demand for the iPhone 17.

Services: Hit an all-time high revenue record of ~$31 billion.

Capital Allocation: The board raised the quarterly cash dividend by 4% to $0.27 per share and authorized an additional $100 billion for share repurchases.

More generally, we're seeing a transition in their financials away from hardware dependence. At this point we can pretty conclusively say that Apple is now a hardware manufacturer mainly, backed up by a high-margin services ecosystem. Services revenue has grown consistently, providing a smoothing function against the more spikey revenue from the hardware product cycles.

Overall they've managed to maintain an ability to deliver double-digit growth, despite creating categories of product which haven't succeeded, providing enough free cash flow to continue their insane (in terms of scale) capital return program (dividends and massive buybacks in the main).

It still blows my mind that this is the same company.

It definitely looks like they've been able to stall the effect of rulings allowing apps to use third party payments. But earlier this week the courts reversed a stay of December's injunction that limits Apple to a very small fee, in their arguments against the stay Epic claimed developers were hesitant to use 3rd party payments until they knew what the final cost would be and that reversing the stay would mitigate their fears so it will be interesting to see what happens next quarter.

Between the two someone needs to disrupt it with a cheaper stripped down alternative (from a big player) because the prices are going through the roof.

If the bubble bursts, Apple with its mountain of cash will be ready to buy the carcasses of whatever is left.

Net profit margin: 26.6% ($29.58B / $111.18B) — what the company and its shareholders keep after taxes and everything else. (edited)

Operating margin: 32.3% ($35.89B / $111.18B) — left after the product and running the company (staff, R&D, marketing, stores).

Gross margin: 49.3% ($54.78B / $111.18B) — left after paying suppliers and contract manufacturers. Shows how much more customers pay than it costs to build.