Apple reported fiscal third-quarter revenue of $94.04 billion, an increase of roughly 10 % from a year earlier and its fastest growth since 2021. Earnings per share reached $1.57, topping consensus forecasts, and iPhone sales jumped 13.5 % to $44.58 billion. Services revenue hit a record $27.42 billion, while sales in Greater China rose 4 % to $15.4 billion after government subsidies lifted demand. Looking ahead, Chief Financial Officer Kevan Parekh said revenue for the quarter ending in September should expand in the mid- to high-single-digit range, versus analysts’ expectations of about 3 %. Gross margin is projected at 46–47 %, and the upbeat outlook sent Apple shares up roughly 3 % in after-hours trading. Chief Executive Officer Tim Cook cautioned that U.S. import tariffs will shave about $1.1 billion from profit in the current quarter, up from an $800 million impact in the June period. Cook added that roughly one percentage point of last quarter’s 9.6 % sales growth came from U.S. consumers buying products early to avoid potential price increases. Cook said Apple is “significantly” increasing investment in artificial intelligence, with capital spending poised to rise and staff being reassigned to AI projects. The company has acquired seven firms so far this year and is open to a larger deal to accelerate its roadmap. Apple is developing a more personalized version of Siri, targeted for release next year. Apple continues to diversify its supply chain, sourcing more iPhones from India and other products from Vietnam, and plans additional manufacturing initiatives in the United States as part of its strategy to blunt future tariff effects.
Apple forecast growth in the ‘mid to high single digits’ for its current quarter ending September, beating expectations from analysts https://t.co/8Ax8gBehoF https://t.co/Z4NYm20hAE
Apple's revenue shows significant recovery driven by strong iPhone 16 sales in China.
Apple's Revenue Recovers Thanks To Strong iPhone 16 Sales in China 🇨🇳