Apple Inc. Reports 10% Revenue Growth with $94.036 Billion in Net Sales for June Quarter

Apple Inc. reported its financial results for the fiscal quarter ending June 28, 2025, revealing a total net sales of $94.036 billion, a 10% increase from $85.777 billion in the same quarter of the previous year. The company's net income for the quarter was $23.434 billion, up from $21.448 billion year-over-year, resulting in diluted earnings per share of $1.57, compared to $1.40 in the prior year. For the nine-month period, total net sales reached $313.695 billion, a 6% increase from $296.105 billion, with net income rising to $84.544 billion from $79.000 billion.

The increase in revenue was primarily driven by a 13% rise in iPhone sales, which totaled $44.582 billion, and a 13% increase in services revenue, amounting to $27.423 billion. The Mac product line also saw a 15% increase in sales, reaching $8.046 billion. However, sales of the iPad and wearables declined, with iPad sales dropping 8% to $6.581 billion and wearables decreasing by 9% to $7.404 billion. The company’s gross margin for the quarter was $43.718 billion, reflecting a gross margin percentage of 46.5%, compared to 46.2% in the same quarter last year.

In terms of operational metrics, Apple reported a total of 14.840 billion shares of common stock outstanding as of July 18, 2025. The company’s cash and cash equivalents increased to $36.269 billion from $29.943 billion at the end of the previous fiscal year. Apple’s total assets decreased to $331.495 billion from $364.980 billion, while total liabilities also fell to $265.665 billion from $308.030 billion, indicating a strengthening balance sheet.

Strategically, Apple has continued to invest in research and development, with expenses rising to $8.866 billion for the quarter, up from $8.006 billion a year earlier. The company has also been active in share repurchase programs, repurchasing $21.0 billion of its common stock during the quarter. Looking ahead, Apple anticipates that macroeconomic conditions, including inflation and currency fluctuations, may impact its future performance. The company remains committed to its capital return program and expects to continue increasing its dividend annually, subject to board approval.