Q4 2025 Apple Inc Earnings Call Transcript
Key Points
- Apple Inc (AAPL) reported a record revenue of $102.5 billion for Q4 2025, marking an 8% increase year-over-year.
- Services revenue reached an all-time high of $28.8 billion, growing 15% from the previous year.
- The iPhone 17 series set a revenue record for the September quarter at $49 billion, with strong demand despite supply constraints.
- Apple's Mac revenue increased by 13% year-over-year, driven by the success of the MacBook Air.
- The company achieved all-time revenue records in emerging markets and an all-time record in India, showcasing strong international growth.
- Apple Inc (AAPL) faced supply constraints on several iPhone 16 and iPhone 17 models, impacting potential sales.
- The Greater China revenue declined by 4% year-over-year in the September quarter, primarily due to iPhone supply constraints.
- Operating expenses increased by 11% year-over-year, driven by higher R&D investments.
- Wearables, Home, and Accessories revenue was flat year-over-year, indicating potential stagnation in this segment.
- The company is facing $1.4 billion in tariff-related costs for the December quarter, impacting gross margins.
Good afternoon and welcome to the Apple Q4 fiscal year 2025 earnings conference call. My name is Suhasani Chandramouli, Director of Investor Relations. Today's call is being recorded.
Speaking first today is Apple's CEO, Tim Cook, and he'll be followed by CFO, Kevan Parekh. After that, we'll open the call to questions from analysts.
Please note that some of the information you'll hear during our discussion today will consist of forward-looking statements including without limitation, those regarding revenue, gross margin, operating expenses, other income and expense, taxes, capital allocation, and future business outlook.
These statements involve risks and uncertainties that may cause actual results or trends to differ materially from our forecast, including risks related to the potential impact to the company's business and results of operations from macroeconomic conditions, tariffs and other measures, and legal and regulatory proceedings.
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