Apple’s fiscal 2025 revenue reached $416,161 (in millions), up 6% from FY2024’s $391,035. These Apple statistics cover segment revenue, regional splits, quarterly results through Q3 FY2026, installed base, and headcount. Every figure traces to Apple’s own SEC filings and quarterly newsroom releases, not to secondhand market estimates.
Three shifts drive the FY2025 and FY2026 picture. Services has taken over as the growth driver rather than iPhone, and Wearables, Home and Accessories has now declined for two consecutive years. Recent quarterly gross margin and EPS both carry a tariff-refund benefit that will not repeat, so reported growth rates overstate the underlying trend. The sections below separate each of those from the headline totals.
Key Takeaways
- Apple’s fiscal 2025 total net sales reached $416,161 (in millions), up 6% from FY2024’s $391,035.
- Apple’s installed base has more than 2.5 billion active devices worldwide.
- Services net sales hit $109,158 (in millions) in FY2025, up 14% year over year, second only to iPhone.
- iPhone net sales reached $209,586 (in millions) in FY2025 and remained roughly half of total revenue.
- Wearables, Home and Accessories net sales fell to $35,686 (in millions) in FY2025, down 4% year over year, after a 7% decline in FY2024.
- Q3 FY2026 quarterly revenue was $109.4 billion, up 16% year over year, with a gross margin of 50.1% including approximately 2 percentage points from tariff refunds.
- Apple had approximately 166,000 full-time equivalent employees as of September 27, 2025.
Editor’s Choice
- $416,161 million: FY2025 total net sales were $416,161 (in millions), which Apple’s CFO called a record fiscal year.
- $143.8 billion: Q1 FY2026 quarterly revenue was $143.8 billion, up 16% year over year, which Tim Cook called a record-breaking quarter.
- $109,158 million: FY2025 Services net sales were $109,158 (in millions), up 14% year over year.
- $209,586 million: FY2025 iPhone net sales were $209,586 (in millions), up 4% year over year.
- 2.5 billion: More than 2.5 billion active devices sit in Apple’s installed base.
- 166,000: Apple had approximately 166,000 full-time equivalent employees at fiscal year-end 2025.
- Up to $100 billion: Apple’s board authorized an additional program to repurchase up to $100 billion of common stock in Q2 FY2026 (quarter ended March 28, 2026).
Apple Annual Net Sales by Segment (FY2025)
iPhone still anchors half of revenue; Services is the second-largest line. Per Apple’s fiscal 2025 Form 10-K, segment net sales in millions of dollars were:
- iPhone: $209,586 (up 4% YoY).
- Services: $109,158 (up 14% YoY).
- Wearables, Home and Accessories: $35,686 (down 4% YoY).
- Mac: $33,708 (up 12% YoY).
- iPad: $28,023 (up 5% YoY).
- Total: $416,161 (up 6% YoY).
By the numbers: iPhone still generates roughly half of Apple’s FY2025 revenue at 50.4% share, while the four non-iPhone segments together contribute nearly 49.6%: Services alone at 26.2%, Wearables at 8.6%, Mac at 8.1% and iPad at 6.7%, together running just under the iPhone line by combined share of total revenue.
iPhone’s share of FY2025 revenue was approximately 0.504. The four non-iPhone segments together were approximately 0.496 of FY2025 revenue. FY2025 iPhone net sales were $209,586 per Apple’s 10-K.
Apple Segment Trend: Year-Over-Year Changes (FY2023 to FY2025)
Services has grown for three straight years; iPhone was flat in FY2024 before recovering; Wearables has declined for two straight years. Three-year segment view surfaces the divergent trend lines:
- Services: grew 14% in FY2025 after 13% in FY2024.
- Mac: grew 12% in FY2025 after 2% in FY2024.
- iPad: grew 5% in FY2025 after -6% in FY2024.
- iPhone: grew 4% in FY2025 after being flat in FY2024.
- Wearables, Home and Accessories: fell 4% in FY2025 after -7% in FY2024.
| Segment | FY2023 ($M) | FY2024 ($M) | FY2025 ($M) |
|---|---|---|---|
| iPhone | 200,583 | 201,183 | 209,586 |
| Services | 85,200 | 96,169 | 109,158 |
| Wearables, Home and Accessories | 39,845 | 37,005 | 35,686 |
| Mac | 29,357 | 29,984 | 33,708 |
| iPad | 28,300 | 26,694 | 28,023 |
| Total net sales | 383,285 | 391,035 | 416,161 |
Source: Apple 10-K FY2025 (SEC filing Oct 31 2025)
FY2023 total net sales were $383,285 per Apple’s 10-K. FY2024 total net sales were $391,035, up 2% year over year. FY2024 Services net sales were $96,169.
Recent Developments: The FY2026 Quarterly Trajectory
The three fiscal 2026 quarters reported through August 2026 have each set a new record:
- Q4 FY2025 delivered a September-quarter revenue record of $102.5 billion, up 8% year over year, including a September-quarter iPhone revenue record and an all-time Services revenue record.
- Q1 FY2026 posted quarterly revenue of $143.8 billion, up 16% year over year, with diluted EPS of $2.84 up 19% year over year, nearly $54 billion in operating cash flow, and almost $32 billion returned to shareholders in the quarter.
- Q2 FY2026 posted quarterly revenue of $111.2 billion, up 17% year over year, diluted EPS of $2.01, up 22% year over year, and Apple’s board authorized an additional program to repurchase up to $100 billion of common stock while launching the iPhone 17e, M4-powered iPad Air, and MacBook Neo.
- Q3 FY2026 posted quarterly revenue of $109.4 billion, up 16% year over year; a gross margin of 50.1%, including approximately 2 percentage points from tariff refunds; and diluted EPS of $2.02, up 29% year over year, including a favorable impact of $0.11 from tariff refunds.
| Fiscal Quarter | Reporting Date | Revenue ($B) | YoY | Diluted EPS |
|---|---|---|---|---|
| Q4 FY2025 | Oct 30, 2025 | 102.5 | +8% | $1.85 |
| Q1 FY2026 | Jan 29, 2026 | 143.8 | +16% | $2.84 |
| Q2 FY2026 | Apr 30, 2026 | 111.2 | +17% | $2.01 |
| Q3 FY2026 | Jul 30, 2026 | 109.4 | +16% | $2.02 |
Source: Apple quarterly earnings releases 2025-2026
Stripping the $0.11 tariff-refund benefit from Q3 FY26 EPS puts underlying growth closer to 22%, not the headline 29%.
Q3 FY2026 Segment Revenue: The 10-Q View
The Q3 FY2026 10-Q breaks the $109.4 billion quarter into product-line detail:
- iPhone: $54,252 (Q3 FY25: $44,582).
- Services: $30,739 (Q3 FY25: $27,423).
- Mac: $10,352 (Q3 FY25: $8,046).
- Wearables, Home and Accessories: $7,883 (Q3 FY25: $7,404).
- iPad: $6,191 (Q3 FY25: $6,581).
| Segment | Q3 FY2026 Net Sales ($M) | Q3 FY2025 Net Sales ($M) |
|---|---|---|
| iPhone | 54,252 | 44,582 |
| Services | 30,739 | 27,423 |
| Mac | 10,352 | 8,046 |
| Wearables, Home and Accessories | 7,883 | 7,404 |
| iPad | 6,191 | 6,581 |
| Total | 109,417 | 94,036 |
Source: Apple 10-Q Q3 FY2026 (SEC filing Jul 31 2026)
Q3 FY2026 total net sales were $109,417 (in millions), up from $94,036 in Q3 FY2025, per Apple’s 10-Q.
Services Revenue: The Growth Engine
Services set a record for four quarters running.
- FY2023 Services net sales: $85,200.
- FY2024 Services net sales: $96,169 (up 13%).
- FY2025 Services net sales: $109,158 (up 14%).
- Q1 FY2026: another all-time record, up 14%.
- Q2 FY2026: another all-time record.
- Q3 FY2026: double-digit Services growth in Q3 FY2026.
Services achieved an all-time revenue record in Q1 FY2026, up 14% from a year earlier. Nine-month FY2026 Services net sales (through June 27, 2026) were $91,728, up from $80,408 in the prior-year nine-month period.
Apple Geographic Performance (FY2025)
Americas drives the bulk of revenue; Greater China trailed the year.
- Americas net sales increased in FY2025 primarily on higher iPhone and Services sales.
- Greater China net sales decreased in FY2025 primarily on lower iPhone sales, partially offset by higher Mac sales.
- Japan net sales increased in FY2025 primarily on higher iPhone, Services and iPad sales.
- Rest of Asia Pacific net sales increased in FY2025 primarily on higher iPhone, Services, and Mac sales.
Figures above are per Apple’s 10-K FY2025 (SEC filing). Q3 FY2026 delivered double-digit revenue growth across every geographic segment, and Q2 FY2026 delivered double-digit revenue growth across every geographic segment.
iPhone Statistics: Revenue and the FY2026 Trajectory
iPhone generated a September-quarter revenue record in Q4 FY2025. FY2025 full-year iPhone details:
- FY2023 iPhone net sales: $200,583.
- FY2024 iPhone net sales: $201,183 (flat).
- FY2025 iPhone net sales: $209,586 (up 4%).
- Nine-month FY2026 iPhone net sales through June 27, 2026: $196,515.
Apple launched iPhone 17, iPhone 17 Pro and Pro Max, and iPhone Air in September 2025, driving a September-quarter iPhone revenue record. The iPhone 17 lineup drove extraordinary demand into Q2 FY2026, and Apple added the iPhone 17e and MacBook Neo to the lineup. Nine-month FY2026 iPhone net sales (through June 27, 2026) were $196,515, up from $160,561 in the prior-year nine-month period.
Wearables, Home and Accessories: The Only Shrinking Segment
Wearables covers Apple Watch, AirPods, HomePod, and Vision Pro. It has now declined for two straight years. Segment data directly from Apple’s 10-K:
- FY2023 Wearables net sales: $39,845.
- FY2024 Wearables net sales: $37,005 (down 7%).
- FY2025 Wearables net sales: $35,686 (down 4%).
Wearables, Home and Accessories net sales decreased 4% in FY2025 compared to 2024, and fell 7% in FY2024 compared to 2023. Adjacent AR shopping experience demand slowdowns show up in the same window.
The takeaway: Wearables has now shrunk two years running (down 7% in FY2024, then down 4% in FY2025) even with Vision Pro shipping in early 2024. Every other Apple segment either grew in FY2025 or held at a record. Wearables is the only Apple line where the trend has bent downward.
Apple’s Installed Base and the FY2026 Ecosystem
Key ecosystem figures directly from Apple’s own filings:
- Active devices worldwide: more than 2.5 billion (confirmed Jan 2026).
- FY2025 total gross margin: 46.9% (Products 36.8%, Services 75.4%).
- FY2025 deferred revenue: $13.7 billion.
- Q3 FY2026 deferred revenue: $14.9 billion.
| Metric | Value |
|---|---|
| Active Apple devices worldwide | 2.5 billion+ |
Source: Apple Q1 FY2026 earnings release (January 29, 2026)
Apple’s installed base has more than 2.5 billion active devices worldwide, confirmed by Tim Cook in Q1 FY2026. FY2025 total gross margin was 46.9% per the 10-K. Apple’s total deferred revenue was $14.9 billion as of June 27, 2026, per the 10-Q.
The App Store remains the sole distribution channel for iPhone software.
Apple Financials: Cash Flow, Buybacks and Dividends
Key financial mechanics for the FY2026 quarters:
- Q1 FY2026 operating cash flow: nearly $54 billion.
- Q1 FY2026 return of capital: almost $32 billion.
- Q2 FY2026 operating cash flow: over $28 billion.
- Q2 FY2026 buyback authorization: up to $100 billion (additional).
- Q3 FY2026 dividend: $0.27 per share.
- Q2 FY2026 dividend: $0.27 per share (+4%).
| Metric | FY2026 Quarterly Figure |
|---|---|
| Q1 operating cash flow | ~$54 billion |
| Q1 shareholder returns | ~$32 billion |
| Q2 operating cash flow | >$28 billion |
| Q2 buyback authorization | up to $100 billion |
| Q3 dividend / share | $0.27 |
Source: Apple quarterly earnings releases 2026
Q1 FY2026 generated nearly $54 billion in operating cash flow, and Apple returned almost $32 billion to shareholders during the quarter. For the quarter ended March 28, 2026, Apple’s board authorized an additional program to repurchase up to $100 billion of common stock. Q2 FY2026 generated over $28 billion in operating cash flow. Apple’s board declared a cash dividend of $0.27 per share in Q3 FY2026.
Apple Employees and Workforce Scale
Apple runs on two clocks: hardware ships more but grows slowly; Services posted a fourth record quarter.
Key workforce facts direct from the 10-K:
- Full-time equivalent employees at fiscal year-end 2025: 166,000.
- FY2025 fiscal year ended: September 27, 2025.
- Q1 FY2026 fiscal quarter ended: December 27, 2025.
- Q3 FY2026 fiscal quarter ended: June 27, 2026.
As of September 27, 2025, Apple had approximately 166,000 full-time equivalent employees.
Is Apple bigger than Amazon?
By market cap, Apple leads Amazon; by annual revenue, Amazon leads; on profit, Apple runs far higher.
- Apple FY2025 total net sales: $416.2 billion.
- Apple installed base: 2.5 billion+ active devices.
- Amazon calendar-year 2024 revenue: roughly $638 billion (Amazon SEC filings).
- Apple’s closest market-cap peer: Microsoft.
- Other trillion-plus tech peers: Meta and Tesla sit lower on valuation.
- Distribution comparison: our Google usage data covers the Android counterpart to Apple’s App Store gateway.
Apple’s FY2025 total net sales were $416,161 (in millions). Amazon leads on revenue; Apple leads on profit and market cap.
What is Apple’s biggest problem in 2026?
Analysts flag two pressures: Greater China revenue softness and the Wearables decline.
Key structural facts:
- Greater China FY2025 net sales: decreased year over year, per Apple’s 10-K.
- Wearables/Home/Accessories: two consecutive annual declines (down 7% then 4%).
- Everything else in the segment mix: at record levels or growing.
Greater China net sales decreased during FY2025 compared to FY2024, primarily due to lower net sales of iPhone.
EU App Store commission pressure and Apple’s AI rollout pace are the other watch points.
Conclusion
Nine-month FY2026 total net sales through June 27, 2026 were $364,357, up from $313,695 in the prior-year nine-month period. Fiscal 2025 was a record year on total revenue ($416 billion) and installed base (2.5 billion active devices), and the FY2026 quarters through June kept that trajectory intact.
For Q4 FY2026 (late October 2026), watch whether full-year FY2026 revenue clears the $416 billion record, whether Wearables shows a fourth declining year, and whether Greater China revenue climbs back toward its FY2022 peak.
