iPhone maker Apple, led by CEO Tim Cook, delivered revenue of $94.04 billion for a third quarter of 2025 overshadowed by tariff concerns as the tech giant shifts device production from China to India.
The tech giant’s overall revenues, up 10 percent year-on-year, surpassed Wall Street expectations after an analyst consensus estimate from Bloomberg forecast Apple would post revenue of $89.22 billion.
Apple’s services segment, which includes Apple TV+, Apple Music, Apple Arcade and other products, posted overall revenue of $27.4 billion, up from a year-earlier $24.2 billion. Key iPhone sales were $44.6 billion during the latest quarter, a rise from a year-earlier $39.2 billion.
The iPhone maker reported net income of $23.4 billion, up from $21.4 billion in 2024, and earnings per-share came in at $1.57, a rise from a year-earlier $1.40.
During an after-market analyst call, Apple execs are expected to discuss a potential impact on demand for its products from the U.S.-China trade war and how successful the tech giant has been shifting its supply chain costs to India to avoid tariffs on Chinese imports.
Besides tariff exposure concerns over iPhone production amid the India pivot, Apple also faces investor worry over regulators getting set to rule on its default search deal with Alphabet subsidiary Google.
Wall Street is also looking for Apple’s artificial intelligence strategy a day after Meta and Microsoft released their own earnings with major AI gains, and Apple is expected to show how it will keep pace with its own AI-driven innovations.