Apple Services revenue reaches new all-time high

Apple today announced financial results for its fiscal 2025 third quarter ended June 28, 2025.

The Company posted earnings of $1.57 a share on revenue of $94 billion, up 10 percent year over year, and quarterly diluted earnings per share of $1.57, up 12 percent year over year.

Wall Street was looking for June quarter earnings of $1.43 a share on revenue of $89.54 billion.

Sales of iPhones were up 13.5% to $44.58 billion, beating analyst expectations of $40.22 billion.

Apple has been shifting production of products bound for the U.S., sourcing iPhones from India and other products such as Macs and Apple Watches from Vietnam.

Still, the company had warned investors that U.S. tariffs could cost it $900 million in the fiscal third quarter, and it trimmed its annual share buyback program by $10 billion, a move analysts viewed as helping to free up cash to remain nimble in uncertain times.

In a statement, CEO Tim Cook said the company’s June quarter saw strong growth across product lines and geographies.

“Today Apple is proud to report a June quarter revenue record with double-digit growth in iPhone, Mac and Services and growth around the world, in every geographic segment,”

“At WWDC25, we were excited to introduce a beautiful new software design that extends across all of our platforms, and we announced even more great Apple Intelligence features.”

Sales from its services business, which includes the App Store as well as music and cloud storage, were $27.42 billion, topping analyst expectations of $26.8 billion.

Sales of wearables such as AirPods and Apple Watches were $7.4 billion, missing estimates of $7.82 billion.

Mac sales of $8.05 billion beat expectations of $7.26 billion, while iPads hit $6.58 billion in sales, missing expectations of $7.24 billion.

In Greater China, where Apple has faced long delays in approval to introduce AI features on its devices, sales were $15.37 billion, up from a year ago and above expectations of $15.12 billion.

Kevan Parekh, Apple’s CFO stated:

“We are very pleased with our record business performance for the June quarter, which generated EPS growth of 12 percent,”

“Our installed base of active devices also reached a new all-time high across all product categories and geographic segments, thanks to our very high levels of customer satisfaction and loyalty.”

Apple’s board of directors has declared a cash dividend of $0.26 per share of the Company’s common stock.

The dividend is payable on August 14, 2025 to shareholders of record as of the close of business on August 11, 2025.