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 iPhone 17 and Air with advanced cameras and new designs. Sustainability is emphasized with recycled materials, and all products launch September 19, 2024.
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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.