AAPL — Q3 2025 Earnings Call
TechnologyApple Inc. • Reported: 2025-07-31
EPS Actual
$1.47
Est. $1.43
▲ Beat
Revenue Actual
$94.9B
Est. $90.5B
▲ Beat
Overall Result
Double Beat
EPS + Revenue vs. estimates
Period
Q3 2025
FY2025 • Reported 2025-07-31
Executive Summary
Apple reported Q3 FY2025 revenue of $94.9 billion, up 7% year-over-year, beating estimates across all segments. Services revenue reached $28.1 billion, a new record. iPhone revenue grew 6% driven by strong Apple Intelligence adoption in more markets. The company announced expanded AI partnerships and new developer tools at WWDC 2025.
Key Highlights
Revenue
positive
Revenue beats by $4.4B
Q3 revenue of $94.9B significantly beat the $90.5B consensus, growing 7% YoY.
Services
positive
Services hits $28.1B
Services revenue grew 14% to a new all-time record of $28.1B with 1.2B paid subscriptions.
AI
positive
Apple Intelligence expands
Apple Intelligence now available in 12 languages across 40+ markets, with on-device AI driving iPhone upgrades.
iPhone
positive
iPhone revenue grows 6%
iPhone revenue of $51.2B grew 6% YoY, with double-digit upgrade growth in AI-enabled markets.
Wearables
neutral
Vision Pro momentum
Wearables segment grew 3% as Vision Pro expanded to enterprise use cases.
Direct Quotes
TC
Tim Cook
CEO • Apple Intelligence
"Apple Intelligence is fundamentally changing how people use their devices. We're seeing strong upgrade momentum in every market where these features are available."
KP
Kevan Parekh
CFO • Financial Results
"Revenue of $94.9 billion grew 7 percent year over year, with records in Services and strong performance across our product categories."