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Apple (AAPL) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Oct 31, 2025
Apple (AAPL) reported revenue of $102.5B for the fourth quarter fiscal 2025 (Q4 FY25), +8% from a year earlier and +9% from the quarter before. Operating margin was 31.6%, net earnings $27.5B (26.8% of revenue).
Apple, Q4 FY25: revenue $102.5B (+8% year over year), operating margin 31.6%, net earnings $27.5B, operating cash flow $29.7B. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $102.5B | +9% | +8% |
| Gross profit | $48.3B | +11% | +10% |
| Operating profit | $32.4B | +15% | +10% |
| Net earnings | $27.5B | +17% | +86% |
| Operating cash flow | $29.7B | +7% | +11% |
| Free cash flow | $26.5B | +9% | +11% |
What changed
Revenue was $102.5B in Q4 FY25, up 8% year over year and up 9% from the previous quarter. iPhone was the largest line at 48% of revenue.
Gross margin was 47.2%, up 1.0 points from a year earlier. Operating profit was $32.4B, a 31.6% margin (up 0.5 points year over year). Of the extra revenue versus a year earlier, 38% reached operating profit, above the 31% margin then. Operating expenses grew 11% against revenue growth of 8%. The fastest-growing cost line was Research & development (+14%). Net earnings were $27.5B, up 86% year over year. The effective tax rate was 16.3%.
Operating cash flow was $29.7B (up 11% year over year), 108% of net earnings. Non-cash charges added back $3.1B of depreciation and amortization and $3.2B of share-based compensation. Working capital and other items used $4.0B. Capital expenditures of $3.2B left free cash flow of $26.5B.
Questions
What was Apple's revenue in the fourth quarter fiscal 2025?
Apple (AAPL) reported revenue of $102.5B for the fourth quarter fiscal 2025 (Q4 FY25), +8% from a year earlier and +9% from the quarter before.
Was Apple profitable in the fourth quarter fiscal 2025?
Operating profit was $32.4B (31.6% of revenue) and net earnings $27.5B.
Source: Apple 10-K on SEC EDGAR.