Apple's Q1 2025 10-Q Filed

TL;DR

Apple's Q1 2025 10-Q is in, showing product/service revenue and various notes due through 2042.

AI Summary

Apple Inc. filed its 10-Q for the period ending December 28, 2024. The filing details financial information for the first quarter of fiscal year 2025. Key financial instruments include various notes due in 2025, 2026, 2027, 2029, 2031, and 2042. The company's primary business segments are products and services.

Why It Matters

This filing provides investors with the latest financial snapshot of Apple Inc., including its debt structure and revenue segments, crucial for understanding the company's performance and stability.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures for a large, established company.

Key Numbers

• 2025 — Notes Due Year (Includes multiple notes maturing in 2025.)
• 2042 — Notes Due Year (Includes notes maturing as far out as 2042.)

Key Players & Entities

• Apple Inc. (company) — Filer
• 2024-12-28 (date) — Reporting period end date
• 2025-01-31 (date) — Filing date
• ONE APPLE PARK WAY, CUPERTINO, CA 95014 (address) — Company business and mail address

FAQ

Key Financial Figures

• $0.00001 — ange on which registered Common Stock, $0.00001 par value per share AAPL The Nasdaq St

Filing Documents

• aapl-20241228.htm (10-Q) — 715KB
• a10-qexhibit10112282024.htm (EX-10.1) — 70KB
• a10-qexhibit10212282024.htm (EX-10.2) — 81KB
• a10-qexhibit31112282024.htm (EX-31.1) — 10KB
• a10-qexhibit31212282024.htm (EX-31.2) — 10KB
• a10-qexhibit32112282024.htm (EX-32.1) — 8KB
• aapl-20241228_g1.jpg (GRAPHIC) — 11KB
• image_0.jpg (GRAPHIC) — 3KB
• 0000320193-25-000008.txt ( ) — 5030KB
• aapl-20241228.xsd (EX-101.SCH) — 34KB
• aapl-20241228_cal.xml (EX-101.CAL) — 74KB
• aapl-20241228_def.xml (EX-101.DEF) — 152KB
• aapl-20241228_lab.xml (EX-101.LAB) — 486KB
• aapl-20241228_pre.xml (EX-101.PRE) — 311KB
• aapl-20241228_htm.xml (XML) — 627KB

Financial Statements

Financial Statements 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.

Controls and Procedures

Controls and Procedures 17 Part II Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6. Exhibits 21

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts) Three Months Ended December 28, 2024 December 30, 2023 Net sales: Products $ 97,960 $ 96,458 Services 26,340 23,117 Total net sales 124,300 119,575 Cost of sales: Products 59,447 58,440 Services 6,578 6,280 Total cost of sales 66,025 64,720 Gross margin 58,275 54,855 Operating expenses: Research and development 8,268 7,696 Selling, general and administrative 7,175 6,786 Total operating expenses 15,443 14,482 Operating income 42,832 40,373 Other income/(expense), net ( 248 ) ( 50 ) Income before provision for income taxes 42,584 40,323 Provision for income taxes 6,254 6,407 Net income $ 36,330 $ 33,916 Earnings per share: Basic $ 2.41 $ 2.19 Diluted $ 2.40 $ 2.18 Shares used in computing earnings per share: Basic 15,081,724 15,509,763 Diluted 15,150,865 15,576,641 See accompanying Notes to Condensed Consolidated Financial Statements. Apple Inc. | Q1 2025 Form 10-Q | 1 Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In millions) Three Months Ended December 28, 2024 December 30, 2023 Net income $ 36,330 $ 33,916 Other comprehensive income/(loss): Change in foreign currency translation, net of tax ( 625 ) 308 Change in unrealized gains/losses on derivative instruments, net of tax: Change in fair value of derivative instruments 1,651 ( 531 ) Adjustment for net (gains)/losses realized and included in net income 784 ( 823 ) Total change in unrealized gains/losses on derivative instruments 2,435 ( 1,354 ) Change in unrealized gains/losses on marketable debt securities, net of tax: Change in fair value of marketable debt securities ( 1,647 ) 3,045 Adjustment for net (gains)/losses realized and included in net income 220 75 Total change in unrealized gains/losses on marketable debt securities

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This Item and other sections of this Quarterly Report on Form 10-Q ("Form 10-Q") contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. For example, statements in this Form 10-Q regarding the potential future impact of macroeconomic conditions on the Company's business and results of operations are forward-looking statements . Forward-looking statements can also be identified by words such as "future," "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "will," "would," "could," "can," "may," and similar terms. Forward-looking statements are not guarantees of future performance and the Company's actual results may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences include, but are not limited to, those discussed in Part I, Item 1A of the 2024 Form 10-K and Part II, Item 1A of this Form 10-Q, in each case under the heading "Risk Factors." The Company assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law. Unless otherwise stated, all information presented herein is based on the Company's fiscal calendar, and references to particular years, quarters, months or periods refer to the Company's fiscal years ended in September and the associated quarters, months and periods of those fiscal years. The following discussion should be read in conjunction with the 2024 Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") and the condensed consolidated financial statements and accompanying notes included in Part I,

View Full Filing

View this 10-Q filing on SEC EDGAR