Apple Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 17% year-over-year to $111.2B, with net income up 22% and record EPS. Strong double-digit growth was seen across all segments and geographies, despite supply constraints. CEO transition and expanded capital return program announced.
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Achieved record revenue and EPS with strong iPhone and services growth, despite supply constraints and rising memory costs. Guidance anticipates continued double-digit revenue growth and robust margins, supported by AI innovation and expanding installed base.
Fiscal Year 2025
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Q4 FY25 revenue rose 8% to $102.5B, with record services and strong iPhone 17 demand. Gross margin hit 47.2%, and net income reached $27.5B. December quarter revenue is expected to grow 10%-12% year-over-year, driven by robust product and services momentum.
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Major product updates include AirPods Pro 3 with live translation and fitness features, Apple Watch Series 11 with hypertension detection, and a new iPhone 17 lineup featuring advanced displays, Apple silicon, and camera systems. All products emphasize durability, sustainability, and AI-powered experiences.
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June quarter revenue reached a record $94B, up 10% YoY, with double-digit growth in iPhone, Mac, and services. Net income hit $23.4B, and EPS rose 12% YoY. Guidance calls for mid to high single-digit revenue growth next quarter, with tariffs expected to impact costs.
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Apple unveiled a sweeping redesign across all platforms with Liquid Glass, expanded Apple Intelligence features, and major updates to core apps and developer tools. New AI-powered capabilities, a unified design, and enhanced productivity tools will roll out in OS updates this fall.
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Revenue grew 5% year over year to $95.4 billion, with record services revenue and strong product growth in iPhone, iPad, and Mac. Gross margin was 47.1%, and net income reached $24.8 billion. June quarter guidance anticipates low to mid-single-digit revenue growth and $900 million in tariff-related costs.
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Record quarterly revenue and EPS were driven by strong growth in Mac, iPad, and services, with Apple Intelligence features boosting iPhone 16 demand in key markets. Gross margin reached 46.9%, and the installed base surpassed 2.35 billion devices.
Fiscal Year 2024
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Record September quarter revenue of $94.9B, up 6% year-over-year, driven by iPhone and services growth. Gross margin reached 46.2%, and net income (excluding a one-time tax charge) was $25B. December quarter revenue is expected to grow low to mid-single digits.
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Major product updates include Apple Watch Series 10, Ultra 2, AirPods 4, and iPhone 16/Pro, all featuring advanced AI, health, and camera capabilities. Sustainability is emphasized with carbon-neutral options, recycled materials, and fiber-based packaging.
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June quarter revenue hit a record $85.8B, up 5% year-over-year, with services up 14% and EPS up 11%. Apple Intelligence was launched, Vision Pro expanded, and the installed base reached all-time highs. September quarter revenue and services are expected to grow at similar rates.
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Announced visionOS 2, iOS 18, iPadOS 18, macOS Sequoia, and watchOS 11 with major new features and customization. Introduced Apple Intelligence, a privacy-focused generative AI system deeply integrated across platforms, and expanded developer tools and gaming support.