Apple's Q2 2025 Earnings Call Takeaways

[MacRumors]

Apple held its earnings call for the second fiscal quarter of 2025 today (second calendar quarter), announcing revenue of $95.4 billion and net quarterly profit of $24.8 billion. During the call, Apple CEO Tim Cook spoke about tariffs, the App Store changes Apple is facing, device sales, and more.

We've rounded up the most interesting tidbits from the Q2 2025 earnings call below.

U.S. App Store Changes

Cook was asked about some of the high-profile legal cases that Apple is facing right now, including the U.S. App Store changes that Apple was ordered to make yesterday, and how those legal cases might impact Apple's services business.

Cook repeated Apple's statement about complying and appealing, and didn't add much more beyond saying that the outcome is unclear.

The case yesterday, we strongly disagree with it. We've complied with the court's order, and we're going to appeal. In the DoJ case you referenced with Google, that case is ongoing, and I don't really have anything to add beyond that.

We're monitoring these closely. But as you point out, there's risk associated with them. And the outcome is unclear.

Tariffs

Cook said that tariffs had a limited impact on the March quarter because Apple was able to optimize its supply chain and inventory. Apple is unable to entirely estimate the impact of tariffs on the June quarter because policies could change, but if everything stays as it is now, the tariffs will add $900 million to Apple's costs.

Cook declined to speak on pricing or whether elevated costs will be passed along to consumers.

US Investment

Cook said that Apple is sourcing glass and Face ID modules from the United States, along with purchasing 19 billion chips from 12 states.

Apple Intelligence Siri Features

Cook said that Apple is "making progress" on the personal Siri features that the company announced at WWDC 2024. "We are making progress, and we look forward to getting these features into customers' hands," said Cook.

"It's just taking a bit longer than we thought," Cook added.

Apple Intelligence Impacting iPhone Sales

Cook said that during the March quarter, Apple saw year over year performance in countries with Apple Intelligence that was stronger than those countries where Apple Intelligence was not available.

Mac

Mac revenue grew 6.7 percent year over year, thanks to the new M4 MacBook Air and Mac Studio that came out during the quarter. The Mac install base grew to an all-time high, and Apple saw growth for upgraders and customers new to the Mac.

iPad

iPad revenue grew 15.2 percent year over year, with growth in every geographic segment. More than half of customers who purchased an iPad were new to the product. Apple debuted the M3 iPad Air and the iPad 11 during the quarter.

Wearables, Home and Accessories

Wearables revenue dropped 4.9 percent year over year due to a difficult compare against the launch of the Apple Vision Pro in the year-ago quarter.

Services

Apple's services revenue was up 11.6 percent year over year, an all-time revenue record, with strong performance across all categories. Apple TV+ set a new record for viewership during the quarter, and paid accounts and paid subscriptions grew double digits year over year. Apple now has more than 1 billion total paid subscriptions.

Article Link: Apple's Q2 2025 Earnings Call Takeaways

 

[Think|Different]

Let the revenue keep on flowing, baby.

 

[frownface]

Apple Intelligence Impacting iPhone Sales

Cook said that during the March quarter, Apple saw year over year performance in countries with Apple Intelligence that was stronger than those countries where Apple Intelligence was not available.

Who could've known that the new product wouldn't sell so well in countries where it's one touted killer feature isn't available.

 

[TracesOfArsenic]

Let the revenue keep on flowing, baby.

That's generally how commerce works, baby.

 

[DocMultimedia]

Takeaway: Apple makes lots of money, Trump asks for lots of it, analysts scream sell so stock plunges. Repeat in three months. The best way to invest is to stop, and just buy Trump-junk. Got me a T-coin just the other day.

 

[Doomtomb]

Sourcing glass from Kentucky is the same old stuff from decades ago.

They don't get chips from 12 states. They get wafers. They turn into chips when they are sorted and packaged which is in Malaysia/Thailand/Taiwan.

 

[DocMultimedia]

Why do some people hang out on MR and rip on Apple? Why not just head over to Droid Rumors? Is that a site? Or do droid folks sit around doing nothing?

 

[Unregistered 4U]

More than half of customers who purchased an iPad were new to the product.

This is still a big deal. I wonder when will the install base of iPads outnumber the install base of Macs. Are we there yet?

 

[frownface]

This is still a big deal. I wonder when will the install base of iPads outnumber the install base of Macs. Are we there yet?

Anecdotally, I feel like we passed that point long ago. Despite the years of head start that macs had.

In my circle of friends & family, pretty much every family has one or more ipads; it doesn't help that ipads are mandated at my child's school; whereas less than a third of the same families i know have a mac of some sort.

I don't have statistics to back up my clains outside of anecdotal experience; but ipads are ubiquitous here in Aus.

 

[UltimaKilo]

What’s the market share of MacOS now?

 

[B-Mc-C]

Who could've known that the new product wouldn't sell so well in countries where it's one touted killer feature isn't available.

One could argue the “killer feature” is not yet available yet in any country, and has been delayed another year, unless you are talking about Genmoji and image playground.

 

[frownface]

One could argue the “killer feature” is not yet available yet in any country, and has been delayed another year, unless you are talking about Genmoji and image playground.

That didn't stop the big billboard that was outside my office window advertising apple intelligence and the iphone 16.

Them not delivering on it is an unrelated issue to them not even marketting it in markets that never were going to have it.

I'm genuinly curious as to how they marketted the 16 in those countries. Since down here, 99% of the marketting material was intelligence. Did they just advertise the 16 and say "16, that's 1 more than 15" or something

 

[svish]

Another good quarter for Apple. Services are doing well and should continue to bring in more revenue in the coming quarters.

 

[dcingie]

Don’t these articles usually have the bar graphs showing how this quarter compared to previous quarters and the overall cyclical comparison??

 

[trusso]

There’s nothing to disagree with on the court case, Tim. You were wrong, and that’s the end of it.

 

[hagar]

900 million taxes Apple has to pay to the US government as a result of the tariffs? That’s a lot of money.

Even more than the EU fine.

 

[Warped9]

I don't have statistics to back up my clains outside of anecdotal experience; but ipads are ubiquitous here in Aus.

I think it was last year we saw a report that iPad dominates Samsung tablets more than 2 to 1 globally. The iPad rules when it comes to tablets.

 

[Gunner49]

When other companies are busy pivoting to retain the cash flow, APPL merely flexes with its earnings!
Apple is doomed!
/s

 

[AdamHarbour]

Apple is getting “bullied” left right and centre by everyone ! Even it own country doesn’t like it !

 

[AlanMarron]

Anecdotally, I feel like we passed that point long ago. Despite the years of head start that macs had.

In my circle of friends & family, pretty much every family has one or more ipads; it doesn't help that ipads are mandated at my child's school; whereas less than a third of the same families i know have a mac of some sort.

I don't have statistics to back up my clains outside of anecdotal experience; but ipads are ubiquitous here in Aus.

After dissing iPads for years, I finally bought an iPad Air last year and use it throughout the day. My MacBook Air sits idle unless I have a print job or need to create a complex spreadsheet. Everything changed when I could access all of my stuff in iCloud.

 

[AlanMarron]

900 million taxes Apple has to pay to the US government as a result of the tariffs? That’s a lot of money.

Even more than the EU fine.

It’s a shocking number. I hope that there’s a light at the end of the tunnel.

 

[Darth Tulhu]

Why do some people hang out on MR and rip on Apple? Why not just head over to Droid Rumors? Is that a site? Or do droid folks sit around doing nothing?

Because (as is the case with pretty much anything), Apple doesn't get a pass when they do something (perceived to be) wrong, even if they do some or even most things right.

Some of us don't like cults or cult-like behavior.

 

[siddavis]

It’s a shocking number. I hope that there’s a light at the end of the tunnel.

Curious, why is that a shocking number?

 

[Nibo10]

Don’t these articles usually have the bar graphs showing how this quarter compared to previous quarters and the overall cyclical comparison??

Scroll further down in the queue

 

[StellarVixen]

My evidence is anecdotal based on looking at what people are talking about on the Internet and outside, and the amount of people who are thinking of or have switched to Mac is substantial.