{"id":48747,"date":"2025-08-01T16:27:57","date_gmt":"2025-08-01T20:27:57","guid":{"rendered":"https:\/\/mjtsai.com\/blog\/?p=48747"},"modified":"2025-08-01T16:29:53","modified_gmt":"2025-08-01T20:29:53","slug":"apples-q3-2025-results","status":"publish","type":"post","link":"https:\/\/mjtsai.com\/blog\/2025\/08\/01\/apples-q3-2025-results\/","title":{"rendered":"Apple’s Q3 2025 Results"},"content":{"rendered":"

Apple<\/a> (transcript<\/a>, MacRumors<\/a>):<\/p>\n

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The Company posted quarterly revenue of $94.0 billion, up 10 percent year over year, and quarterly diluted earnings per share of $1.57, up 12 percent year over year.<\/p>\n

“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,” said Tim Cook, Apple’s CEO.<\/p>\n<\/blockquote>\n\n

Jason Snell<\/a> (podcast<\/a>):<\/p>\n

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Mac revenue was up 15%, iPhone revenue up 13%, and Services revenue up 13%. The Wearables\/Home\/Accessories category was down 9% and iPad revenue down 8%.<\/p>\n<\/blockquote>\n\n

Jason Snell<\/a>:<\/p>\n

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Apple is so big and has so many customers that it just slowly gets larger and larger. Every quarter, Apple trumpets the increase in its global installed base of devices, and this quarter was no different. Every quarter, Apple cherry-picks some specific stats about new buyers that boggle the mind—over half of this quarter’s iPad and Apple Watch buyers were buying their first one of those products?!<\/p>\n

[…]<\/p>\n

For all the hand-wringing about Apple’s long-term fate in the Chinese market, Cook took time out to point out that “the MacBook Air was the top-selling laptop model in all of China, and the Mac Mini was the top-selling desktop model in all of China.”<\/p>\n

[…]<\/p>\n

Apple is “significantly” increasing what it spends on AI, as well as taking people internally and re-tasking them.<\/p>\n<\/blockquote>\n\n

Jeff Johnson<\/a>:<\/p>\n

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I wonder if Mac mini is the top selling desktop model in the world?<\/p>\n<\/blockquote>\n\n

Juli Clover<\/a>:<\/p>\n

Speaking to Reuters<\/a><\/em>, Cook said that approximately one percentage point of Apple’s 10 percent sales growth in Q3 2025 can be attributed to customers buying more products to get ahead of tariffs.<\/p><\/blockquote>\n\n

Juli Clover<\/a>:<\/p>\n

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Speaking to CNBC<\/a><\/em>, Apple CEO Tim Cook<\/a> said that iPhone revenue was up because the iPhone 16<\/a> turned out to be more popular with consumers than the iPhone 15<\/a> was during the same time period last year.<\/p>\n<\/blockquote>\n\n

I think the iPhone 15 was the one that didn’t get a new processor and didn’t support Apple Intelligence.<\/p>\n\n

Joe Rossignol<\/a>:<\/p>\n

Specifically, Apple’s CFO Kevan Parekh said that the company’s September quarter revenue outlook was contingent on Apple’s revenue-sharing agreement with Google continuing. As noted by Jason Snell at Six Colors<\/em><\/a>, this is seemingly the first time Apple has directly referred to the threat of losing this revenue within its prepared remarks.<\/p><\/blockquote>\n\n

Nick Heer<\/a>:<\/p>\n

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On 16 September 1997, Steve Jobs became interim CEO<\/a> of Apple. 5,090 days later<\/a>, he handed the reins<\/a> to Tim Cook, weeks before he died.<\/p>\n\n

5,090 days after 24 August 2011 is today<\/a>. The Cook era is now as long as the Jobs renaissance era.<\/p>\n<\/blockquote>\n\n

Previously:<\/p>\n