Apple earnings beat Wall Street on top and bottom lines

Apple Park in Cupertino, California
Apple today announced financial results for its fiscal 2025 second quarter ended March 29, 2025. The Company posted quarterly revenue of $95.4 billion, up 5 percent year over year, and quarterly diluted earnings per share of $1.65, up 8 percent year over year.
“Today Apple is reporting strong quarterly results, including double-digit growth in Services,” said Tim Cook, Apple’s CEO, in a statement. “We were happy to welcome iPhone 16e to our lineup, and to introduce powerful new Macs and iPads that take advantage of the extraordinary capabilities of Apple silicon. And we were proud to announce that we’ve cut our carbon emissions by 60 percent over the past decade.”
“Our March quarter business performance drove EPS growth of 8 percent and $24 billion in operating cash flow, allowing us to return $29 billion to shareholders,” said Kevan Parekh, Apple’s CFO, in a statement. “And thanks to our high levels of customer loyalty and satisfaction, our installed base of active devices once again reached a new all-time high across all product categories and geographic segments.”
Apple’s board of directors has declared a cash dividend of $0.26 per share of the Company’s common stock, an increase of 4 percent. The dividend is payable on May 15, 2025 to shareholders of record as of the close of business on May 12, 2025. The board of directors has also authorized an additional program to repurchase up to $100 billion of the Company’s common stock.
Apple will provide live streaming of its Q2 2025 financial results conference call beginning at 2:00 p.m. PT on May 1, 2025 at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.
Apple’s Q225 results (vs. analysts’ consensus estimates):
Revenue: $95.359 billion (vs. $94.62 billion estimate)
EPS: $1.65 (vs. $1.62 estimate)
Products revenue: $68.714 billion (vs. $67.84 billion estimate)
– iPhone revenue: $46.841 billion (vs. $45.82 billion estimate)
– Mac revenue: $7.949 billion (vs. $7.77 billion estimate)
– iPad revenue: $6.402 billion (vs. $6.15 billion estimate)
– Wearables, home and accessories: $7.522 billion (vs. $8.05 billion estimate)
– Services revenue: $26.645 billion (vs. $26.72 billion estimate)
Greater China revenue: $16.002 billion (vs. $16.83 billion estimate)
Operating cash flow: $29.589 billion (vs. $32.59 billion estimate)
Total operating expenses: $15.268 billion (vs. $15.17 billion estimate)
Gross margin: $44.867 billion (vs. $44.58 billion estimate)
Cash and cash equivalents: $28.162 billion (vs. $32.73 billion estimate)
Cost of sales: $50.492 billion (vs. $50.23 billion estimate)
Total current assets: $118.674 billion (vs. $138.29 billion estimate)
Total current liabilities: $144.571 billion (vs. $132.99 billion estimate)
MacDailyNews Take: Let’s see how this one plays. As always, even more so before tariff deals happen, Apple’s guidance is key. Check our home page for the link to live notes from Apple’s 2pm PDT / 5pm EDT conference call with analysts momentarily.

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