Tech giant Apple, led by CEO Tim Cook, delivered revenue of $95.36 billion for the second quarter of 2025 overshadowed by sweeping new tariffs imposed on China by the Trump administration.
The iPhone maker’s overall revenues surpassed analyst expectations after a consensus estimate from FactSet forecast Apple would record $94.4 billion in revenue.
Apple’s services segment, which includes Apple TV+, Apple Music, Apple Arcade and other products, posted overall revenue of $26.6 billion, up from a year-earlier $23.8 billion.
The iPhone maker reported net income of $24.7 billion, up from $23.6 billion in 2024, and earnings per-share came in at $1.65, up from a year-earlier $1.53, and beating an analyst forecast of $1.63 for the latest quarter.
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 the tech giant will deal with fall out from the Trump administration’s global trade war affecting supply chain costs out of China, Vietnam and India.
Tariff exemptions have been allowed for smartphones and other electronics, if only temporarily. But the looming talks on reducing or ending sweeping new tariffs on China has rattled investors for its potential impact on Apple’s global-spanning business.
Other tariffs-induced impacts, including recessionary pressures on a wobbly economy leading to lower consumer spending, could impact subscriber numbers for Apple TV+ and Apple Music and whether iPhone users upgrade to the newer handsets.
