Highlights
- Apple posted $94.04B in Q3 revenue up 10% YoY driven by strong iPhone, Mac and Services growth.
- It also hit a major milestone of 3 billion iPhones shipped since 2007.
- Apple incurred $800M in tariff-related costs this quarter with an estimated $1.1B expected in Q4.
- Apple is significantly increasing its AI spending, expanding Apple Intelligence features across platforms.
Apple has released its financial results for fiscal Q3 2025, which ended on June 28. The tech giant reported $94.04 billion in revenue for the quarter, which is a 10% increase from the same period last year and notably higher than the expected $89.22 billion. Here’s a full look at the key figures from the report.
Apple Q3 2025 Financial Highlights
- Total revenue: $94.04 billion
- Net income: $23.43 billion
- Earnings per share (EPS): $1.57
- iPhone revenue: $44.58 billion
- Mac revenue: $8.05 billion
- iPad revenue: $6.58 billion
- Wearables, Home & Accessories revenue: $7.4 billion
- Services revenue: $27.42 billion
During the call, Apple CEO Tim Cook said, “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.”
Apple CFO Kevan Parekh added, “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.”
Check out the charts at the end of this article for detailed figures.
Apple Hits 3 Billion iPhones Milestone
During the earnings call, CEO Tim Cook revealed a major milestone. Apple has now shipped three billion iPhones since the product first launched in 2007.
The first billion was achieved in July 2016, nine years after the original iPhone debuted. At the time, Cook called it “one of the most important, world-changing and successful products in history.” While Apple never publicly announced when it passed the two-billion mark, analysts estimate that it happened around September 2021.
Cook shared the news during his prepared remarks, stating, “We also recently marked a significant milestone. We shipped the 3 billionth iPhone since its launch in 2007.”
Apple has not reported hardware unit sales since November 2018. Then-CFO Luca Maestri explained that quarterly unit numbers “are not representative of underlying state of business.”
Tariffs Add $800M in Q3, $1.1B Expected in Q4
Cook also addressed the impact of tariffs on Apple’s operations. In Q3, the company incurred around $800 million in tariff-related expenses. Looking ahead to Q4, Apple estimates that tariffs could cost the company approximately $1.1 billion, assuming no changes in current global tariff rates and policies.
“For the June quarter, we incurred approximately $800 million of tariff-related costs. For the September quarter, assuming the current global tariff rates, policies, and applications the balance of the quarter, and no new tariffs are added, we estimate the impact to add about $1.1 billion to our costs,” Cook said.
He cautioned that due to ongoing policy uncertainty, these estimates should not be treated as future projections. Apple had previously projected a $900 million impact in Q3, so the $800 million actual suggests a quicker-than-expected adjustment, partly aided by the company’s shift of U.S.-bound iPhone production from China to India.
Apple has not yet disclosed which specific products or regions were most affected, nor whether the additional $1.1 billion in costs might lead to price hikes for consumers.
Despite these cost pressures, Apple still posted solid growth across major product lines, especially iPhones, Macs, and Services.
Apple’s AI Investment Ramps Up Amid Competition
Caption – Apple Intelligence. (Image credit – Apple)
Tim Cook also emphasised Apple’s growing commitment to artificial intelligence. In a statement to CNBC, he called AI “one of the most profound technologies of our lifetime” and confirmed that Apple is “significantly growing” its AI spending.
CNBC writes, “We are significantly growing our investments,” Cook said about AI. “We’re embedding it across our devices, across our platforms and across the company.” Cook said that Apple had acquired “around” seven companies so far this year although none had been “huge in terms of dollar amount.” “We’re open to M&A that accelerates our roadmap,” Cook said.
This comes as Apple tries to regain ground in the AI space. Bloomberg recently reported the departure of another high-profile executive from Apple’s foundation models team to Meta’s superintelligence division marking the fourth such exit in a short time.
Apple Intelligence, launched last year, is expanding with more features in iOS 26, but delays particularly around Siri have contributed to skepticism about Apple’s AI leadership compared to companies like OpenAI and Google.
Cook hinted that mergers and acquisitions (M&A) could help speed up Apple’s AI roadmap, as the company seeks to close the gap and deliver a more competitive AI experience across its platforms.
Apple Q3 2025 in graphs –
FAQs
Q1. What was Apple’s total revenue and net income for Q3 2025?
Answer. Apple reported $94.04 billion in revenue and $23.43 billion in net income for fiscal Q3 2025, which ended on June 28.
Q2. How many iPhones has Apple shipped since the product launched?
Answer. Apple has now shipped three billion iPhones since the product first launched in 2007.
Q3. How are tariffs affecting Apple’s financials?
Answer. In Q3, Apple incurred approximately $800 million of tariff-related costs. For Q4, assuming current global tariff rates and no new tariffs, the company estimates the impact to add about $1.1 billion to its costs.
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