Apple reported a record fiscal third quarter, delivering revenue of $109.4 billion and diluted earnings per share of $2.02. Both figures set new records for a June quarter and exceeded Wall Street expectations of about $108.65 billion in revenue and $1.89 in earnings per share. The results were released after markets closed on July 30 and marked Tim Cook’s final quarterly earnings call as chief executive before hardware chief John Ternus is scheduled to take over on September 1.<\/p>\n
Revenue increased 16% from a year earlier as the iPhone, Mac, and Services businesses each achieved record June quarter sales. Gross margin reached 50.1%, well above Apple’s previous guidance of 47.5% to 48.5%. The company said about two percentage points of that margin came from tariff reimbursements. Even without that benefit, margins remained close to the upper end of Apple’s forecast, easing investor concerns about rising memory chip costs.<\/p>\n
Cook said Apple delivered its strongest June quarter ever, supported by double-digit revenue growth across the iPhone, Mac, and Services businesses as well as every geographic segment. Chief financial officer Kevan Parekh added that Apple also achieved record operating cash flow and reached a new all-time high in its installed base of active devices across all product categories.<\/p>\n
Before the earnings release, investors had focused on whether Apple could protect profitability as memory prices continued to rise because of strong demand from AI data center operators. The quarterly results suggest Apple’s scale and supplier relationships continue to help offset higher component costs. However, analysts at Jefferies warned that iPhone margins could come under pressure once temporary tariff benefits expire.<\/p>\n
Apple increased prices for selected Mac and iPad models in June to offset higher component costs. Investors are now looking for signs that the company could introduce iPhone price increases ahead of the expected launch of the iPhone 18 in September if supply chain pressures continue.<\/p>\n
Apple also faces growing political pressure in the United States. On July 30, a bipartisan group of senators called on the company to abandon plans to source memory chips from Chinese manufacturers YMTC and CXMT before August 21. If implemented, that request could limit Apple’s supplier options and make cost management more challenging.<\/p>\n
Cook’s final earnings presentation concludes a leadership period during which Apple’s share price rose by more than 2,400%. The stock had gained 24% since the beginning of the year and briefly surpassed a $5 trillion market valuation earlier in the week before pulling back ahead of the earnings announcement. Apple’s board also declared a quarterly dividend of $0.27 per share, payable on August 13.<\/p>\n","protected":false},"excerpt":{"rendered":"
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