Apple Inc. SEC 10-Q Report
Apple Inc., a global leader in technology and consumer electronics, has released its latest Form 10-Q report, showcasing robust financial and operational performance for the third quarter of 2025. The report highlights significant growth in key financial metrics, driven by strong sales of iPhone and Services, as well as notable developments in various business segments.
Financial Highlights
Total Net Sales: $94,036 million, increased by 10% compared to the same period in 2024, driven by higher sales of iPhone and Services.
Gross Margin: $43,718 million, reflecting a gross margin percentage of 46.5%, slightly up from 46.3% in the previous year, due to a favorable mix of services.
Operating Income: $28,202 million, up from $25,352 million in the previous year, indicating improved operational efficiency.
Net Income: $23,434 million, an increase from $21,448 million in the previous year, supported by higher sales and improved gross margins.
Diluted EPS: $1.57, compared to $1.40 in the previous year, reflecting the company's strong financial performance and effective cost management.
Business Highlights
Revenue Segments
- iPhone: Net sales increased by 13% in the third quarter and 4% in the first nine months of 2025 compared to the same periods in 2024, driven by higher sales of Pro models.
- Mac: Sales rose by 15% and 12% respectively, due to increased sales of both laptops and desktops.
- iPad: Sales decreased by 8% in the third quarter but increased by 7% over the nine months, with higher sales of iPad Air offsetting declines in iPad Pro.
- Wearables, Home and Accessories: Saw a decline in sales by 9% in the third quarter and 5% over nine months, primarily due to lower sales of Wearables and Accessories.
- Services: Revenue grew by 13% in both the third quarter and the first nine months, driven by increased sales from advertising, the App Store, and cloud services.
Geographical Performance
- Americas: Net sales increased by 9% in the third quarter and 7% over the nine months, primarily due to higher iPhone and Services sales, despite unfavorable currency impacts.
- Europe: Saw a 10% increase in the third quarter and 8% over nine months, driven by higher Services and iPhone sales.
- Greater China: Experienced a 4% increase in the third quarter due to higher iPhone and Mac sales, but a 4% decrease over nine months due to lower iPhone sales.
- Japan: Net sales rose by 13% in the third quarter and 15% over nine months, with favorable currency impacts and higher iPhone and Services sales.
- Rest of Asia Pacific: Saw a 20% increase in the third quarter and 9% over nine months, driven by higher Services and iPhone sales.
New Product Launches
During the third quarter of 2025, Apple announced new operating systems including iOS 26, macOS Tahoe 26, iPadOS 26, watchOS 26, visionOS 26, and tvOS 26.
Future Outlook
The company anticipates continued volatility and downward pressure on gross margins due to various factors, including tariffs and currency fluctuations. Apple also plans to increase its dividend on an annual basis, subject to board approval.
SEC Filing: Apple Inc. [ AAPL ] - 10-Q - Aug. 01, 2025