Apple posts record $94 billion revenue, $23.4 billion profit
Apple just posted a record-breaking $94 billion in revenue and $23.4 billion in profit for the quarter ending June 28, beating Wall Street's forecasts by over $4 billion.
Earnings per share jumped 12% to $1.57.
CEO Tim Cook credited strong iPhone, Mac, and Services sales worldwide for the boost—even with some market headwinds.
iPhone sales hit $44.58 billion, services rise to $27.4 billion
iPhone sales hit $44.58 billion (up from last year's $39.3 billion), even though US tariffs on China-made products cost Apple about $800 million this quarter.
To work around this, Apple is making more iPhones in India for the US, but most still come from China.
Services like digital content and subscriptions also rose to $27.4 billion, adding to Apple's momentum.
Apple shipped 44.8 million phones globally this quarter
Global smartphone shipments dipped 1% this quarter—Samsung shipped 57.5 million phones while Apple moved 44.8 million units worldwide.
Even though shipments dropped slightly for Apple, revenue in mainland China actually grew to $15.4 billion thanks to steady demand despite supply chain hiccups and tariff pressures, according to analysts today.