Apple beats Wall Street expectations with record Q3 revenue fueled by strong iPhone sales
The tech giant posted quarterly revenue of $94.04 billion, a 10 percent increase year-over-year, and net profit of $23.4 billion, or $1.57 per diluted share, marking a 12 percent rise in earnings per share compared to the prior year. Analysts had predicted revenue to fall below $90 billion with earnings closer to $1.43 per share, so Apple's results exceeded expectations substantially, prompting a notable rise in its stock price in after-hours trading.
The flagship iPhone category emerged as the primary revenue driver, generating $44.58 billion in sales, a remarkable 13.5 percent increase year-over-year. This figure substantially outpaced analyst forecasts of roughly $40.22 billion, fueled by rebounding demand in key markets like China. Sales in Greater China grew to $15.37 billion from $14.73 billion the previous year, underscoring Apple's strength in the region after a period of slowdown.
Apple's services segment, encompassing App Store, Apple Pay, iCloud, and other digital offerings, hit an all-time quarterly high of $27.42 billion, reflecting a 13 percent growth over the prior year and beating analyst expectations of $26.80 billion. Meanwhile, Mac sales saw an impressive lift with revenue climbing nearly 15 percent to $8.05 billion, continuing a trend of strong demand for Apple's computers amid both consumer and professional use cases.
Conversely, the iPad business faced a 7 percent decline in revenue, producing $6.6 billion, despite recent refreshes with M4 chip upgrades and newer models targeting broader consumer segments. The Wearables, Home, and Accessories category—which includes AirPods and Apple Watch—also saw an 8.6 percent decrease in sales year-over-year, suggesting a temporary softness ahead of anticipated product updates later this fall.
Apple CEO Tim Cook expressed satisfaction with the results, stating, '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 also announced a quarterly dividend of $0.26 per share, payable August 14 on August 11 record holders.
Apple maintained its practice of not issuing forward guidance for the next quarter, a strategy it has kept for over five years, citing the unpredictability of market dynamics and product launches.The company's shares rallied more than 2 percent in after-hours trading following the announcement, reflecting investor optimism about Apple's sustained growth trajectory amid a competitive tech landscape.
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