Apple Reports Record $109.4 Billion Quarter as Cook Ends Run

*Apple’s final earnings under Tim Cook show 16 percent revenue growth, with iPhone sales leading the gains and iPad the sole decline.*

Apple posted revenue of $109.4 billion for its third fiscal quarter, up 16 percent from the year-ago period. The results mark the 90th and last quarterly call led by Tim Cook, who became CEO in August 2011.

Revenue Breakdown

iPhone revenue rose 22 percent. Mac revenue increased 10.4 percent. Services revenue grew 12 percent. Wearables revenue advanced 6 percent. iPad revenue fell 6 percent.

The company earned more in this single quarter than its entire fiscal 2011 revenue of $108 billion, the year Cook took the top job. Fiscal 2025 revenue reached $416 billion.

Cook’s Tenure in Numbers

When Cook assumed the role, Apple’s full-year revenue stood at $108 billion. The current quarter alone exceeds that figure. Fiscal 2025 revenue of $416 billion reflects the scale built over the intervening period.

The source transcript of the analyst call and the accompanying retrospective both center on these comparisons rather than forward guidance.

Why it matters

These numbers illustrate how Apple’s product mix and services business have scaled under one leader. The 22 percent iPhone jump and the 12 percent services increase show where growth concentrated, while the iPad drop remains the clear outlier. For anyone who follows the company’s supplier chain or competes in services, the quarter supplies concrete evidence of continued concentration in mobile hardware and recurring revenue. The single data point that one quarter now matches an entire year from 2011 sets the baseline for any discussion of what comes next.

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Sources:

• Six Colors