Apple Tops Q4 Estimates, iPhone 17 Drives Growth

Apple reported fiscal Q4 2025 results with $102.5 billion in revenue (up 8% year‑over‑year) and $27.5 billion in net income, or $1.85 per share, slightly topping Wall Street estimates. The quarter was led by strong initial demand for the iPhone 17, with iPhone revenue about $49.0 billion (up ~6%) helped by a redesigned “liquid glass” display even as the models lack some advanced AI features found in rivals. Services set an all‑time quarterly record near $28.7 billion; Apple also reported a 47.2% gross margin and declared a $0.26 dividend. Greater China revenue fell to roughly $14.5 billion (down ~3.6%), missing estimates as regulatory delays and a postponed iPhone 17 Air launch weighed on sales. Investors sent shares higher after hours, lifting Apple’s market value above $4 trillion and capping a record fiscal year of roughly $416.2 billion in revenue and $112.0 billion in net income. Analysts said management will face questions about Apple’s longer‑term AI strategy despite incremental AI feature additions across its products.