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Apple’s Q3 Revenue Tops $94 Billion with Record iPhone and Services Growth

Tariff expenses will reach about $1.1 billion next quarter following supply-chain shifts to India.

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A person looks at iPhones in the Apple Fifth Avenue store in New York City, U.S., May 23, 2025. REUTERS/Adam Gray/File Photo
Despite solid results, Amazon and CEO Andy Jassy have not convinced investors that AWS' AI playbook is a great one.
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Overview

  • Apple posted $94.04 billion in June-quarter revenue, up nearly 10% year-over-year, and delivered earnings of $1.57 per share, both ahead of analyst forecasts.
  • iPhone sales surged 13.5% to $44.58 billion, driven by strong seasonal upgrades and some pull-forward purchases ahead of tariff threats.
  • Services revenue hit a new high of $27.42 billion, fueled by robust App Store, streaming and cloud-subscription growth.
  • Greater China revenue rebounded to $15.37 billion, reversing a prior decline and benefiting from local subsidy programs.
  • CEO Tim Cook said Apple is significantly increasing investment in artificial intelligence and is making good progress on a personalized Siri experience.