Apple CEO Tim Cook [left], CFO Kevan Parekh [right]
Apple has reported the fiscal results for the second quarter of 2025, with the financials revealing Apple may have benefited a little but perhaps not as much as expected from consumer tariff fears, earning $95.4 billion in the quarter.
Following the blockbuster Q1 quarter and the benefits of holiday sales to Apple’s bottom line, Q2 is usually a fair bit lower in comparison. However, at Apple’s scale, the figures are still very important to the company.
In the second quarter, Apple’s revenue of $95.4 billion is up 5% year-on-year from the $90.75 billion reported in Q2 2024. This is also above the Wall Street Consensus, which believed Apple would haul in $94.42 billion as an average.
On a per-unit basis, iPhone revenue of $46.84 billion is up from $45.96 billion in the year-ago quarter. Mac revenue was $7.95 billion, up marginally year-on-year from $7.45 billion.
The iPad revenue went from $5.56 billion in Q2 2024 to $6.4 billion this year, with Wearables, Home, and Accessories down to $7.5 billion from $7.9 billion. The ever-dependable Services arm continued its long run of growth, reporting $26.6 billion for Q2 2025 versus $23.9 billion in Q2 2024.
Apple’s board of directors declared a cash dividend of $0.26 per share of common stock. The Earnings Per Share is listed at $1.65.
During the quarter, Apple continued to benefit from post-holiday sales of fall product launches, including the iPhone 16 range.
The quarter also benefited from its own product launches, including the iPhone 16e, the 11th-gen iPad, the M3 editions of iPad Air, the M4 MacBook Air, and the updated Mac Studio. However, since they launched during the quarter, they won’t necessarily have as much of an impact on finances versus products that were available through the entire quarter.
The quarterly results arrive to a backdrop of a tariff war, which sees the administration of Donald Trump trying to apply tariffs against all other countries. China has been the target of considerably high tariff hikes, but Apple and others will benefit from a temporary reprieve for its semiconductor-based products.
While the tariffs wouldn’t have directly impacted Apple’s Q2 results because the quarter closed before they were implemented, they will probably make a difference for Q3 2025.
As usual, Apple’s share price is taking a hit following the results release. Within 14 minutes of the figures being published, the share price has dipped almost $5 since markets closed in after-market trading.
This is market behavior that is often seen for quarterly results releases, even when they turn out to be record-breaking numbers.
After pointing out the double-digit growth in Services, CEO Tim Cook said the company was proud to announce “we’ve cut our carbon emissions by 60 percent over the past decade.”
CFO Kevan Parekh commented about how EPS growth of 8% and $24 billion in operating cash flow allows Apple to “return $29 billion tos shareholders.” He also mentioned high levels of customer loyalty and satisfaction, and a new all-time high for its install base across all product categories and geographic segments.
