Apple Reports Record $94B Revenue, $27B Services in Q3

Apple reported strong financial results for its fiscal third quarter, with revenue reaching $94.04 billion, a 10% year-over-year increase, and net income rising to $23.43 billion. iPhone sales surged by 13.5%, driving much of the growth, while Mac sales increased by 15%, though iPad and wearable sales declined. The company faced an estimated $1.1 billion in additional costs due to President Trump's tariffs but mitigated some impact by shifting production to India and Vietnam. Apple's services segment hit a record quarterly revenue of $27.4 billion, growing 13% year-over-year, supported by offerings such as the App Store, Apple Music, and AppleCare. Additionally, Apple introduced AppleCare One, a new monthly service plan allowing U.S. customers to bundle protection for multiple devices. Despite competitive challenges and tariff burdens, Apple maintains strong market momentum through significant AI investments and record device activations.