Space News from SpaceDaily.com
Apple profit beats forecasts on strong iPhone sales
San Francisco, United States, July 31 (AFP) Jul 31, 2025
Apple on Thursday reported quarterly profit of $23.4 billion, topping forecasts despite concerns about the effect of US tariffs on its supply chain.

Revenue was $94 billion for the usually slow quarter ending in June, the iPhone maker said.

"Apple is proud to report a June quarter revenue record with double-digit growth in iPhone, Mac and Services and growth around the world, in every geographic segment," said Apple chief executive Tim Cook.

Apple shares were up more than two percent in after-market trading.

Revenue from iPhone sales during the quarter was $44.6 billion, compared with $39.3 billion in the same period a year earlier, according to Apple.

Global shipments of smartphones fell marginally to 288.9 million units in the recently-ended quarter, according to market-tracker Canalys.

Samsung was the largest vendor, shipping 57.5 million smartphones, while Apple finished second with iPhone shipments down two percent at 44.8 million units, Canalys reported.

"Apple's performance showed strong resilience amid fierce competition in China and an inventory correction in the US as it adjusted to the rapidly changing tariffs," the market tracker said in its findings.

Cook said that the Trump tariffs cost Apple $800 million in the quarter that just ended.

Cook said on a previous earnings call that most iPhones sold in the United States will come from India as Apple worked to navigate US President Donald Trump's trade war with China.

While iPhones produced in mainland China still account for the majority of US shipments, production in India has been ramping up, according to market trackers.

Trump has since taken aim at India with a 25 percent duty to begin Friday -- slightly lower than previously threatened -- after talks between Washington and New Delhi failed to bring about a trade pact.

Tit-for-tat exchanges have seen hefty US levies imposed on China, with Beijing setting retaliatory barriers on US imports.

Sales of iPhones in mainland China were $15.4 billion in the quarter, compared with $14.7 billion in the same period a year ago, according to Apple.

Revenue in Apple's services business selling digital content and subscriptions to fans of its devices grew to $27.4 billion in the quarter, Apple reported.


ADVERTISEMENT




Space News from SpaceDaily.com
After repeated explosions, new test for Musk's megarocket
NASA seeks student entries for Human Exploration Rover Challenge
Signs of recent life on Mars could be detected using new simple test

24/7 Energy News Coverage
Low carbon taxes often fail to target emissions reduction
Finding the shadows in a fusion system faster with AI
Macquarie licenses precision silver recovery tech for solar panel recycling

Military Space News, Nuclear Weapons, Missile Defense
France discussing 'unjustified' arrest of citizen in Mali
Trump rules out immediate Ukraine ceasefire
Russia hosts first military meeting with Sahel juntas; Mali junta accuses foreign powers of destabilisation plot

24/7 News Coverage
Destructive cosmic airbursts likely more common than previously believed
CO2 increase to reshape geomagnetic storm impacts on satellites
Fossil discoveries in southern Africa reveal life before catastrophic Permian extinction


All rights reserved. Copyright Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.