In its last quarter of the 2025 financial year, Apple has posted $102.5 billion in earnings, marred by a narrow miss on iPhone earnings — but not sales volume.
Apple has released the financial results for Q4 2025, bringing to an end a very profitable year for the company. The quarter is the first to enjoy some of the effects of the period's product launches, including the iPhone 17 and iPhone Air, but the full effect will be felt during Apple's typically massive Q1 results in three months time.
The publishing of the results occurs shortly before the traditional conference call with analysts and investors, hosted by CEO Tim Cook and CFO Kevan Parekh.
Topics on the call will almost certainly include Apple's September iPhone launches along with other products, reaching a $4 trillion valuation, ongoing tariff battles, and other elements that can affect the Q1 forecasts.
For the quarter, Apple achieved revenue of $102.5 billion, up from the $94.93 billion reported in Q4 2024. The earnings per share is declared at $1.85, while the cash dividend is $0.26.
Apple quarterly revenue and gross margin, as of Q4 2025.
The Wall Street consensus put Apple at an average of $107.79 billion for revenue, $1.78 for the earnings per share.
On a product category basis, iPhone revenue of $49.02 billion is up from $46.22 billion seen in the same quarter last year. Wall Street expected this figure to be higher at $50.2 billion.
The iPad revenue of $6.952 billion is marginally up from the $6.95. billion in the year-ago quarter, and Mac revenue of $8.73 billion is up from Q4 2024's $7.74 billion figure.
Services is a continually reliable source of growth for the company, and it continues its path here with $28.75 billion, up from $24.9 billion one year ago. Wearables, Home, and Accessories was at $9.04 billion last year, but is now at $9.01 billion.
Apple iPhone revenue, as of Q4 2025.
During the quarter, Apple saw product launches for the iPhoen 17 range, iPhone Air, Apple Watch Series 11, Apple Watch SE 3, Apple Watch Ultra 3, and AirPods Pro 3. However, while the balance sheet will benefit slightly from these launches, the Q1 2026 results will receive the full effect of the sales.
Just after the quarter, Apple also introdued the M5 iPad Pro, MacBook Pro, and Apple Vision Pro.
As the last quarter of the financial year, it also allowed investors to see the full-year figures for the company.
Gross sales of $416.2 billion for the 2025 financial year are up from $391 billion seen for 2024's financial year. The gross margin of $195.2 billion is up from the 2024 figure of $180.7 billion.
Apple's annual revenue, gross margin, and net income.
"Today, Apple is very proud to report a September quarter revenue record of $102.5 billion, including a September quarter revenue record for iPhone and an all-time revenue record for Services," said Cook in prepared comments.
"Our September quarter results capped off a record fiscal year, with revenue reaching $416 billion, as well as double-digit EPS growth," said Parekh, Apple's CFO. "Thanks to our very high levels of customer satisfaction and loyalty, our installed base of active devices also reached a new all-time high across all product categories and geographic segments.
