Apple today announced its financial results for the second quarter, which ended on March 29, 2025. Total revenue was $95.4 billion, up 5% year over year, and operating income was $29.58 billion. Quarterly diluted earnings per share were $1.65, representing an 8% year-over-year increase. Apple’s board also announced a $100 billion stock repurchase program, along with an increased cash dividend of $0.26 per share.
Apple highlighted that its installed base of active devices reached a new all-time high across all product categories and geographic segments. In terms of revenue, performance in Europe and China lagged behind that of the Americas, Japan, and the Rest of Asia Pacific.
Revenue from Apple’s Services business reached $26.64 billion—a new all-time high and a 12% increase year over year. However, the future of a significant portion of the Services business appears uncertain, as a recent court order will require Apple to allow developers to implement their own payment systems within apps and games. This could result in a potential loss of its 30% commission.
Outside of Services, iPhone revenue remained relatively flat, growing just 2% year over year. Mac revenue rose 7%, while iPad revenue increased by 15%. Revenue from Wearables, Home, and Accessories declined 5% to $7.52 billion.
Apple CEO Tim Cook commented on the quarterly results:
“Today, Apple is reporting strong quarterly results, including double-digit growth in Services. We were happy to welcome iPhone 16e to our lineup 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.”
Cook also estimated that tariffs imposed by the Trump administration could add $900 million in costs for the June quarter if the current policy remains in place.
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