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Mar 29
Apple Q2 2025 Earnings Report
Apple posted strong March quarter results with record EPS and all-time high Services revenue.
Key Takeaways
Apple delivered solid Q2 2025 results with $95.4B in revenue and $24.78B in net income, driven by double-digit growth in Services and continued momentum across product categories.
Services revenue reached an all-time high at $26.645B.
EPS hit a record for the March quarter at $1.65.
Operating cash flow was $24B, enabling $29B return to shareholders.
Apple announced a new $100B share repurchase program and increased its dividend by 4%.
Apple
Apple
Apple Revenue by Segment
Apple Revenue by Geographic Location
Forward Guidance
Apple did not provide specific forward financial guidance, but emphasized strong momentum in Services and high customer satisfaction.
Positive Outlook
- Double-digit Services growth expected to continue.
- Strong iPhone 16e reception supports outlook.
- New Macs and iPads powered by Apple silicon to drive growth.
- High customer loyalty and record installed base.
- Shareholder return plans signal financial confidence.
Challenges Ahead
- No quantitative forward guidance provided.
- Greater China sales declined year-over-year.
- Operating expenses continue to rise.
- Mac and Wearables segments showed limited growth.
- Macro uncertainties and FX headwinds remain risks.
Revenue & Expenses
Visualization of income flow from segment revenue to net income