Apple’s boom continues. It just reported that revenue during its most recent financial quarter grew 16% year over year. That’s the ninth quarter in a row of revenue increases, and the third of double-digit increases.
“Today, Apple is proud to report our strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every geographic segment,” said Tim Cook, Apple’s CEO, in a statement.
Apple revenue beats Wall Street expectations… again!
Before Thursday’s announcement, Wall Street analysts had predicted revenue for the June quarter would be around $108.75 billion, an increase of 15.6% versus the same quarter of last year. Earnings per share were expected to hit $1.88, an increase of 19.8% year over year.
Apple’s quarterly revenue hit $109.4 billion, and EPS reached $2.02, up 29% year over year, and included a favorable impact of $0.11 from tariff refunds. Both figures set June-quarter records for Apple.
“We are very pleased with our record business performance during the quarter, which set new June quarter records for both EPS and operating cash flow,” said Kevan Parekh, Apple’s CFO. “Our installed base of active devices also reached a new all-time high across all major product categories and geographic segments.”
Strong iPhone and Mac sales give Apple another blockbuster quarter
Demand for the iPhone 17 series has been strong since the handset debuted, and that clearly continued in the April-through-June period. Revenue from iPhone increased 22% versus the same quarter of last year, reaching $54.3 billion, a June quarter record.
But Mac revenue was the real standout, shooting upward 29% YoY to $10.4 billion. That’s the best June quarter ever.
Not all the news was good. Revenue coming from iPad dropped by 6% YoY, which the company chalked up to strong sales of the iPad (A16) last year compared to no new iPad in the most-recent June quarter.
And while revenue coming in from Services saw an annual increase of 12%, it declined slightly compared to last quarter — that almost never happens. This is the money flowing in from the App Store, Apple Music, iCloud, Apple TV+ and other subscription offerings.
