Apple Inc. · Earnings release · 8-K Exhibit 99

EX-99.1 2 a8-kex991q3202506282025.htm EX-99.1 Document Exhibit 99.1 Apple reports third quarter results T1June quarter records for total company revenue, iPhone revenue and EPS T2Services revenue reaches new all-time high CUPERTINO, CALIFORNIA — Apple ® today announced financial results for its fiscal 2025 third quarter ended June 28, 2025. The Company posted quarterly revenue of $94.0 billion, up 10 percent year over year, and quarterly diluted earnings per share of $1.57, up 12 percent year over year. "Today Apple is proud to report a T3June quarter revenue record with double-digit growth in iPhone, Mac and Services and growth around the world, in every geographic segment," said Tim Cook, Apple's CEO.

"T4At WWDC25, we were excited to introduce a beautiful new software design that extends across all of our platforms, and we announced even more great Apple Intelligence features." "T5We are very pleased with our record business performance for the June quarter, which generated EPS growth of 12 percent," said Kevan Parekh, Apple's CFO. "T6Our installed base of active devices also reached a new all-time high across all product categories and geographic segments, T7thanks to our very high levels of customer satisfaction and loyalty." Apple's board of directors has declared a cash dividend of $0.26 per share of the Company's common stock. The dividend is payable on August 14, 2025 to shareholders of record as of the close of business on August 11, 2025.

Apple will provide live streaming of its Q3 2025 financial results conference call beginning at 2:00 p.m. PT on July 31, 2025, at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter. Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders. This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about payment of the Company's quarterly dividend and future business plans.

These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, trade and other international disputes, geopolitical tensions, conflict, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, support, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations.

More information on these risks and other potential factors that could affect the Company's business, reputation, results of operations, financial condition, and stock price is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date they are made. Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro.

Apple's six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple's more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it. Press Contact: Josh Rosenstock Apple jrosenstock@apple.com (408) 862-1142 Investor Relations Contact: Suhasini Chandramouli Apple suhasini@apple.com (408) 974-3123 NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or email Apple's Media Helpline at media.help@apple.com. © 2025 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple.

Other company and product names may be trademarks of their respective owners. Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts) Three Months Ended Nine Months Ended June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 Net sales:    Products $ 66,613  $ 61,564  $ 233,287  $ 224,908     Services 27,423  24,213  80,408  71,197  Total net sales (1) 94,036  85,777  313,695  296,105  Cost of sales:    Products 43,620  39,803  147,097  140,667     Services 6,698  6,296  19,738  18,634  Total cost of sales 50,318  46,099  166,835  159,301  Gross margin 43,718  39,678  146,860  136,804  Operating expenses: Research and development 8,866  8,006  25,684  23,605  Selling, general and administrative 6,650  6,320  20,553  19,574  Total operating expenses 15,516  14,326  46,237  43,179  Operating income 28,202  25,352  100,623  93,625  Other income/(expense), net (171) 142  (698) 250  Income before provision for income taxes 28,031  25,494  99,925  93,875  Provision for income taxes 4,597  4,046  15,381  14,875  Net income $ 23,434  $ 21,448  $ 84,544  $ 79,000  Earnings per share: Basic $ 1.57  $ 1.40  $ 5.64  $ 5.13  Diluted $ 1.57  $ 1.40  $ 5.62  $ 5.11  Shares used in computing earnings per share: Basic 14,902,886  15,287,521  14,992,898  15,401,047  Diluted 14,948,179  15,348,175  15,051,726  15,463,175  (1)  Net sales by reportable segment: Americas $ 41,198  $ 37,678  $ 134,161  $ 125,381  Europe 24,014  21,884  82,329  76,404  Greater China 15,369  14,728  49,884  51,919  Japan 5,782  5,097  22,067  19,126  Rest of Asia Pacific 7,673  6,390  25,254  23,275  Total net sales $ 94,036  $ 85,777  $ 313,695  $ 296,105  (1)  Net sales by category: iPhone $ 44,582  $ 39,296  $ 160,561  $ 154,961  Mac 8,046  7,009  24,982  22,240  iPad 6,581  7,162  21,071  19,744  Wearables, Home and Accessories 7,404  8,097  26,673  27,963  Services 27,423  24,213  80,408  71,197  Total net sales $ 94,036  $ 85,777  $ 313,695  $ 296,105  Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par value) June 28, 2025 September 28, 2024 ASSETS: Current assets: Cash and cash equivalents $ 36,269  $ 29,943  Marketable securities 19,103  35,228  Accounts receivable, net 27,557  33,410  Vendor non-trade receivables 19,278  32,833  Inventories 5,925  7,286  Other current assets 14,359  14,287  Total current assets 122,491  152,987  Non-current assets: Marketable securities 77,614  91,479  Property, plant and equipment, net 48,508  45,680  Other non-current assets 82,882  74,834  Total non-current assets 209,004  211,993  Total assets $ 331,495  $ 364,980  LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable $ 50,374  $ 68,960  Other current liabilities 62,499  78,304  Deferred revenue 8,979  8,249  Commercial paper 9,923  9,967  Term debt 9,345  10,912  Total current liabilities 141,120  176,392  Non-current liabilities: Term debt 82,430  85,750  Other non-current liabilities 42,115  45,888  Total non-current liabilities 124,545  131,638  Total liabilities 265,665  308,030  Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 14,856,722 and 15,116,786 shares issued and outstanding, respectively 89,806  83,276  Accumulated deficit (17,607) (19,154) Accumulated other comprehensive loss (6,369) (7,172) Total shareholders' equity 65,830  56,950  Total liabilities and shareholders' equity $ 331,495  $ 364,980  Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) Nine Months Ended June 28, 2025 June 29, 2024 Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances $ 29,943  $ 30,737  Operating activities: Net income 84,544  79,000  Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization 8,571  8,534  Share-based compensation expense 9,680  8,830  Other (1,748) (1,964) Changes in operating assets and liabilities: Accounts receivable, net 5,685  6,697  Vendor non-trade receivables 13,555  11,100  Inventories 1,223  41  Other current and non-current assets (6,116) (5,626) Accounts payable (18,479) (15,171) Other current and non-current liabilities (15,161) 2  Cash generated by operating activities 81,754  91,443  Investing activities: Purchases of marketable securities (17,591) (38,074) Proceeds from maturities of marketable securities 35,036  39,838  Proceeds from sales of marketable securities 10,785  7,382  Payments for acquisition of property, plant and equipment (9,473) (6,539) Other (975) (1,117) Cash generated by investing activities 17,782  1,490  Financing activities: Payments for taxes related to net share settlement of equity awards (5,719) (5,163) Payments for dividends and dividend equivalents (11,559) (11,430) Repurchases of common stock (70,579) (69,866) Proceeds from issuance of term debt, net 4,481  —  Repayments of term debt (9,682) (7,400) Repayments of commercial paper, net (65) (2,985) Other (87) (191) Cash used in financing activities (93,210) (97,035) Increase/(Decrease) in cash, cash equivalents, and restricted cash and cash equivalents 6,326  (4,102) Cash, cash equivalents, and restricted cash and cash equivalents, ending balances $ 36,269  $ 26,635  Supplemental cash flow disclosure: Cash paid for income taxes, net $ 37,332  $ 19,230