Apple today reported its earnings for the quarter ending June 28, 2025, posting revenue of $94.0 billion, a 10% year-over-year increase and a new record for the June quarter. This significantly exceeded analyst expectations of $89.35 billion, marking a strong performance by the company. The company"s operating income was $28.2 billion, up from $25.3 billion.
The record revenue was primarily driven by double-digit growth in iPhone, Mac, and Services, along with strong performance across global markets. iPhone sales rose to $44.58 billion, up 13% from $39.2 billion, accounting for about 46% of the company’s total revenue for the quarter. Mac posted the strongest growth, with revenue increasing 15% to $8.04 billion. Services revenue reached a record $27.4 billion, up 13% year-over-year.
However, the downside was a decline in iPad sales, which fell 8% to $6.5 billion, while the Wearables, Home, and Accessories segment saw revenue drop 9% to $7.4 billion.
Kevan Parekh, Apple’s CFO, said:
“We are very pleased with our record business performance for the June quarter, which generated EPS growth of 12%. 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.”
During the earnings call, when questioned about Apple"s AI strategy, Apple CEO Tim Cook said the company is “very open to M&A that accelerates the roadmap and isn"t stuck on the size of the company.” There were rumors on the internet that Apple has internally discussed acquiring Perplexity and Mistral.
Apple’s board also announced a dividend of $0.26 per share, payable on August 14. Overall, Apple"s robust quarterly performance highlights the continued strength of its core products and services, successfully offsetting weaknesses in other areas including AI.