Apple has reported latest quarterly revenue of $95.4 billion, up 5% from a year ago, for its fiscal 2025-second quarter ended March 29, 2025. It posted a net profit of $24.8 billion, up 5.08% YoY and quarterly earnings per diluted share of $1.65, up 8% YoY and a March quarter record.
During the earnings call, Apple CEO Tim Cook said that the company has set a number of quarterly records in countries and regions across the world, including the UK, Spain, Finland, Brazil, Chile, Turkey, Poland, India, and the Philippines.
He confirmed that the company will open new retail stores in India starting later this year. Based on earlier reports, the stores will be opened in Bengaluru, Pune, and Delhi-NCR, and it will add one more outlet in Mumbai.
Majority of iPhones sold in the U.S. will be from India
For the June quarter, Apple expects the majority of iPhones sold in the U.S. will have India as their country of origin and Vietnam to be the country of origin for almost all iPad, Mac, Apple Watch, and AirPods products sold in the — also sold in the U.S. China would continue to be the country of origin for the vast majority of total product sales outside the U.S.
- Products revenue was $68.7 billion, up 3% from last year, driven by the growth in iPhone, iPad, and Mac
- Both transacting and paid accounts reached new all-time highs, with paid accounts growing double-digits year-over-year.
- Services revenue set an all-time record of $26.6 billion, up 12% year-over-year. This growth rate was comparable to the December quarter year-over-year growth rate when we removed the negative impact from foreign exchange.
- iPhone revenue was $46.8 billion, up 2% from a year ago.
- iPad revenue was $6.4 billion, up 15% year-over-year, another strong quarter of double-digit growth, driven by the new M3-powered iPad Air
- iPad installed base reached another all-time high, and over half of the customers who purchased iPads during the quarter were new to the product
- Mac generated $7.9 billion in revenue, up 7% year-over-year, driven by the latest MacBook Air, MacBook Pro and Mac Mini models.
- Wearables, Home and Accessories revenue was $7.5 billion, down 5% from a year ago.
- Apple Watch installed base reached a new all-time high with over half of customers purchasing an Apple Watch during the quarter being new to the product.
- Over 1 billion paid subscriptions across the services on the platform. Paid subscriptions also grew double-digits
Speaking on Apple’s FY Q2 2025 earnings results, Apple CEO, Tim Cook, said,
Today, Apple is reporting strong quarterly results, including double-digit growth in Services. We were happy to welcome iPhone 16e to our line up, 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.