Apple Hits Record $102.5B Quarter as iPhone 17 Sales “Off the Chart”

Apple posted revenue of $102.5 billion for the fourth quarter ending September 27, 2025, up 8 percent from the same period last year. The company earned $1.85 per share, an increase of 13 percent year over year on an adjusted basis.

“Today, Apple is very proud to report a September quarter revenue record of $102.5 billion, including a September quarter revenue record for iPhone and an all-time revenue record for Services,” said Apple CEO Tim Cook. He added that the company launched “our best iPhone lineup ever,” including the iPhone 17, iPhone 17 Pro, iPhone Pro Max, and iPhone Air, along with the new AirPods Pro 3 and Apple Watch lineup.

Chief financial officer Kevan Parekh said the results “capped off a record fiscal year, with revenue reaching $416 billion, as well as double-digit EPS growth.”

Key Numbers

• Net income: $27.5 billion, up sharply from $14.7 billion a year earlier.
• Gross margin: $48.3 billion on total sales of $102.5 billion.
• Product sales: $73.7 billion, led by iPhone ($49 billion), followed by Mac ($8.7 billion), iPad ($7 billion), and Wearables ($9 billion).
• Services revenue: $28.8 billion, up 15 percent from last year.
• Full-year revenue: $416.2 billion, up from $391 billion in 2024.
• Full-year profit: $112 billion, compared to $93.7 billion last year.

“We expect total company revenue to grow by 10 to 12% year over year, we expect iPhone revenue to grow double digits, year over year, and we expect that that would make the December quarter the best ever in the history of the company,” Cook said to CNBC.

“We look at the results to date, the reception of the consumer on the very strong iPhone lineup,” Cook said. “We’re looking at traffic in our stores, which is up significantly year on year. We see enthusiasm around the world,” he added, saying iPhone 17 sales are “off the chart”.

“Currently, we’re supply constrained on several models of the iPhone 17,” Cook said, noting last year’s iPhone 16 was also affected.

As for Apple services revenue, “it was a run of the table,” Cook said to CNBC. “We expect China to return to growth this quarter because of the reception of the iPhone there, or the iPhone 17 family,” Cook explained.

The Apple CEO also explained prices haven’t changed despite Trump tariffs. “We held the pricing that we would have done without any tariffs, and we’re just absorbing the tariffs in gross margin,” said Cook.

Apple ended the quarter with $35.9 billion in cash, and the board declared a $0.26 per-share dividend payable on November 13, 2025, to shareholders of record as of November 10.

Overall, Apple’s record September quarter was driven by iPhone and Services growth, setting the stage for the company’s upcoming holiday season.