iPhone revenue hit a March-quarter record of ~$57B, driven by iPhone 17 demand.
Services revenue reached an all-time high of ~$31B.
Operating cash flow exceeded $28B, a March-quarter record.
Board raised quarterly cash dividend 4% to $0.27/share.
Hacker News Comment Review
Commenters debated Services growth drivers: Google search revenue share (revealed at 36% in antitrust trial) and Apple’s success in limiting third-party payment rulings are seen as key levers, though a recent court reversal on app payment injunctions may pressure future Services margins.
Some see Apple’s restrained AI investment as a strategic hedge: if the AI bubble deflates, Apple’s cash position lets it acquire distressed assets rather than write down capex.
Speculation that Apple will expand device price tiers (budget to Ultra) to widen the Services funnel, and may eventually challenge Microsoft 365 and Google Workspace directly.
Notable Comments
@lysace: breaks down margins manually: net profit margin 26.6%, operating margin 32.3% on $111.18B revenue.
