San Francisco: Apple has exceeded market expectations with its latest revenue forecast, signaling continued strength in global demand and confidence in its diversified strategy. Despite facing a $1.1 billion impact from US tariffs, the tech giant projects revenue growth in the "mid to high single digits" for the quarter ending in September — outpacing analyst expectations of a 3.27% increase to $98.04 billion.
In its fiscal third quarter ending June 28, Apple reported revenue of $94.04 billion, marking a 10% year-over-year rise and surpassing analyst estimates of $89.54 billion. Earnings per share reached $1.57, above the projected $1.43.
CEO Tim Cook acknowledged that ongoing US tariffs have added significant costs — $800 million in the June quarter and an expected $1.1 billion this quarter. However, early iPhone purchases ahead of possible price hikes helped boost sales. iPhone revenue jumped 13.5% to $44.58 billion, well above the forecasted $40.22 billion.
Regional growth was also notable. The Americas saw a 9.3% rise in revenue to $41.2 billion, while Greater China delivered $15.37 billion, slightly beating estimates despite regulatory delays.
To counter tariff pressures, Apple has diversified its supply chain — sourcing iPhones from India and producing other devices like Macs and Apple Watches in Vietnam. Still, uncertainty remains over the long-term tariff outlook.
Chief Financial Officer Kevan Parekh affirmed that the company expects continued solid growth into the next quarter, citing strong consumer demand and strategic adaptability. Investors reacted positively, with Apple shares climbing 3% in after-hours trading.
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