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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
May 1, 2025
Date of Report (Date of earliest event reported)
g325078g0426062022046a24.jpg
Apple Inc.
(Exact name of Registrant as specified in its charter)

California 001-36743 94-2404110
(State or other jurisdiction
of incorporation)		 (Commission
File Number)		 (I.R.S. Employer
Identification No.)
One Apple Park Way
Cupertino, California 95014
(Address of principal executive offices) (Zip Code)
(408) 996-1010
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol(s)Name of each exchange on which registered
Common Stock, $0.00001 par value per shareAAPLThe Nasdaq Stock Market LLC
0.000% Notes due 2025—The Nasdaq Stock Market LLC
0.875% Notes due 2025—The Nasdaq Stock Market LLC
1.625% Notes due 2026—The Nasdaq Stock Market LLC
2.000% Notes due 2027—The Nasdaq Stock Market LLC
1.375% Notes due 2029—The Nasdaq Stock Market LLC
3.050% Notes due 2029—The Nasdaq Stock Market LLC
0.500% Notes due 2031—The Nasdaq Stock Market LLC
3.600% Notes due 2042—The Nasdaq Stock Market LLC
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02    Results of Operations and Financial Condition.
On May 1, 2025, Apple Inc. (“Apple”) issued a press release regarding Apple’s financial results for its second fiscal quarter ended March 29, 2025. A copy of Apple’s press release is attached hereto as Exhibit 99.1.
The information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
 
Item 9.01    Financial Statements and Exhibits.
(d)Exhibits.
Exhibit
Number		Exhibit Description
99.1
104Inline XBRL for the cover page of this Current Report on Form 8-K.


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:May 1, 2025Apple Inc.
By:/s/ Kevan Parekh
Kevan Parekh
Senior Vice President,
Chief Financial Officer


Exhibit 99.1


Apple reports second quarter results

Services revenue reaches new all-time high

EPS sets March quarter record

CUPERTINO, CALIFORNIA — Apple® today announced financial results for its fiscal 2025 second quarter ended March 29, 2025. The Company posted quarterly revenue of $95.4 billion, up 5 percent year over year, and quarterly diluted earnings per share of $1.65, up 8 percent year over year.

“Today Apple is reporting strong quarterly results, including double-digit growth in Services,” said Tim Cook, Apple’s CEO. “We were happy to welcome iPhone 16e to our lineup, and to introduce powerful new Macs and iPads that take advantage of the extraordinary capabilities of Apple silicon. And we were proud to announce that we’ve cut our carbon emissions by 60 percent over the past decade.”

“Our March quarter business performance drove EPS growth of 8 percent and $24 billion in operating cash flow, allowing us to return $29 billion to shareholders,” said Kevan Parekh, Apple’s CFO. “And thanks to our high levels of customer loyalty and satisfaction, our installed base of active devices once again reached a new all-time high across all product categories and geographic segments.”

Apple’s board of directors has declared a cash dividend of $0.26 per share of the Company’s common stock, an increase of 4 percent. The dividend is payable on May 15, 2025 to shareholders of record as of the close of business on May 12, 2025. The board of directors has also authorized an additional program to repurchase up to $100 billion of the Company’s common stock.

Apple will provide live streaming of its Q2 2025 financial results conference call beginning at 2:00 p.m. PT on May 1, 2025 at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.

Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.


This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about the Company’s plan for return of capital, payment of its quarterly dividend, and future business plans. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, trade and other international disputes, geopolitical tensions, conflict, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, support, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date they are made.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

Press Contact:
Josh Rosenstock
Apple
jrosenstock@apple.com
(408) 862-1142

Investor Relations Contact:
Suhasini Chandramouli
Apple
suhasini@apple.com
(408) 974-3123


NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or email Apple’s Media Helpline at media.help@apple.com.

© 2025 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.



Apple Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(In millions, except number of shares, which are reflected in thousands, and per-share amounts)
Three Months EndedSix Months Ended
March 29,
2025		March 30,
2024		March 29,
2025		March 30,
2024
Net sales:
   Products$68,714 $66,886 $166,674 $163,344 
   Services26,645 23,867 52,985 46,984 
Total net sales (1)
95,359 90,753 219,659 210,328 
Cost of sales:
   Products44,030 42,424 103,477 100,864 
   Services6,462 6,058 13,040 12,338 
Total cost of sales50,492 48,482 116,517 113,202 
Gross margin44,867 42,271 103,142 97,126 
Operating expenses:
Research and development
8,550 7,903 16,818 15,599 
Selling, general and administrative
6,728 6,468 13,903 13,254 
Total operating expenses
15,278 14,371 30,721 28,853 
Operating income
29,589 27,900 72,421 68,273 
Other income/(expense), net
(279)158 (527)108 
Income before provision for income taxes
29,310 28,058 71,894 68,381 
Provision for income taxes
4,530 4,422 10,784 10,829 
Net income
$24,780 $23,636 $61,110 $57,552 
Earnings per share:
Basic
$1.65 $1.53 $4.06 $3.72 
Diluted
$1.65 $1.53 $4.05 $3.71 
Shares used in computing earnings per share:
Basic
14,994,082 15,405,856 15,037,903 15,457,810 
Diluted
15,056,133 15,464,709 15,103,499 15,520,675 
(1) Net sales by reportable segment:
Americas
$40,315 $37,273 $92,963 $87,703 
Europe
24,454 24,123 58,315 54,520 
Greater China
16,002 16,372 34,515 37,191 
Japan
7,298 6,262 16,285 14,029 
Rest of Asia Pacific
7,290 6,723 17,581 16,885 
Total net sales
$95,359 $90,753 $219,659 $210,328 
(1) Net sales by category:
iPhone
$46,841 $45,963 $115,979 $115,665 
Mac
7,949 7,451 16,936 15,231 
iPad
6,402 5,559 14,490 12,582 
Wearables, Home and Accessories
7,522 7,913 19,269 19,866 
Services
26,645 23,867 52,985 46,984 
Total net sales
$95,359 $90,753 $219,659 $210,328 



Apple Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(In millions, except number of shares, which are reflected in thousands, and par value)

March 29,
2025		September 28,
2024
ASSETS:
Current assets:
Cash and cash equivalents
$28,162 $29,943 
Marketable securities
20,336 35,228 
Accounts receivable, net
26,136 33,410 
Vendor non-trade receivables
23,662 32,833 
Inventories
6,269 7,286 
Other current assets
14,109 14,287 
Total current assets
118,674 152,987 
Non-current assets:
Marketable securities
84,424 91,479 
Property, plant and equipment, net
46,876 45,680 
Other non-current assets
81,259 74,834 
Total non-current assets
212,559 211,993 
Total assets
$331,233 $364,980 
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities:
Accounts payable
$54,126 $68,960 
Other current liabilities
61,849 78,304 
Deferred revenue
8,976 8,249 
Commercial paper
5,982 9,967 
Term debt
13,638 10,912 
Total current liabilities
144,571 176,392 
Non-current liabilities:
Term debt
78,566 85,750 
Other non-current liabilities
41,300 45,888 
Total non-current liabilities
119,866 131,638 
Total liabilities
264,437 308,030 
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 14,939,315 and 15,116,786 shares issued and outstanding, respectively
88,711 83,276 
Accumulated deficit(15,552)(19,154)
Accumulated other comprehensive loss(6,363)(7,172)
Total shareholders’ equity
66,796 56,950 
Total liabilities and shareholders’ equity
$331,233 $364,980 



Apple Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In millions)

Six Months Ended
March 29,
2025		March 30,
2024
Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances$29,943 $30,737 
Operating activities:
Net income61,110 57,552 
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization5,741 5,684 
Share-based compensation expense6,512 5,961 
Other(2,217)(1,971)
Changes in operating assets and liabilities:
Accounts receivable, net7,266 7,727 
Vendor non-trade receivables9,171 12,164 
Inventories858 53 
Other current and non-current assets(4,371)(4,438)
Accounts payable(14,604)(16,710)
Other current and non-current liabilities(15,579)(3,437)
Cash generated by operating activities53,887 62,585 
Investing activities:
Purchases of marketable securities(12,442)(25,042)
Proceeds from maturities of marketable securities26,587 27,462 
Proceeds from sales of marketable securities5,210 4,314 
Payments for acquisition of property, plant and equipment(6,011)(4,388)
Other(635)(729)
Cash generated by investing activities12,709 1,617 
Financing activities:
Payments for taxes related to net share settlement of equity awards(3,205)(2,875)
Payments for dividends and dividend equivalents(7,614)(7,535)
Repurchases of common stock(49,504)(43,344)
Repayments of term debt(4,009)(3,150)
Repayments of commercial paper, net(3,968)(3,982)
Other(77)(132)
Cash used in financing activities(68,377)(61,018)
Increase/(Decrease) in cash, cash equivalents, and restricted cash and cash equivalents(1,781)3,184 
Cash, cash equivalents, and restricted cash and cash equivalents, ending balances$28,162 $33,921 
Supplemental cash flow disclosure:
Cash paid for income taxes, net$31,683 $14,531 

v3.25.1
Cover Page
May 01, 2025
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date May 01, 2025
Entity Registrant Name Apple Inc.
Entity Incorporation, State or Country Code CA
Entity File Number 001-36743
Entity Tax Identification Number 94-2404110
Entity Address, Address Line One One Apple Park Way
Entity Address, City or Town Cupertino
Entity Address, State or Province CA
Entity Address, Postal Zip Code 95014
City Area Code 408
Local Phone Number 996-1010
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0000320193
Common Stock, $0.00001 par value per share  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, $0.00001 par value per share
Trading Symbol AAPL
Security Exchange Name NASDAQ
0.000% Notes due 2025  
Entity Information [Line Items]  
Title of 12(b) Security 0.000% Notes due 2025
No Trading Symbol Flag true
Security Exchange Name NASDAQ
0.875% Notes due 2025  
Entity Information [Line Items]  
Title of 12(b) Security 0.875% Notes due 2025
No Trading Symbol Flag true
Security Exchange Name NASDAQ
1.625% Notes due 2026  
Entity Information [Line Items]  
Title of 12(b) Security 1.625% Notes due 2026
No Trading Symbol Flag true
Security Exchange Name NASDAQ
2.000% Notes due 2027  
Entity Information [Line Items]  
Title of 12(b) Security 2.000% Notes due 2027
No Trading Symbol Flag true
Security Exchange Name NASDAQ
1.375% Notes due 2029  
Entity Information [Line Items]  
Title of 12(b) Security 1.375% Notes due 2029
No Trading Symbol Flag true
Security Exchange Name NASDAQ
3.050% Notes due 2029  
Entity Information [Line Items]  
Title of 12(b) Security 3.050% Notes due 2029
No Trading Symbol Flag true
Security Exchange Name NASDAQ
0.500% Notes due 2031  
Entity Information [Line Items]  
Title of 12(b) Security 0.500% Notes due 2031
No Trading Symbol Flag true
Security Exchange Name NASDAQ
3.600% Notes due 2042  
Entity Information [Line Items]  
Title of 12(b) Security 3.600% Notes due 2042
No Trading Symbol Flag true
Security Exchange Name NASDAQ
Apple (NASDAQ:AAPL)
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