Apple delivered $94 billion in revenue in Q3 2025, up nearly 10 percent year‑on‑year, and posted earnings per share of $1.57, above expectations.
“Apple shares fell after the company trimmed its stock buyback program … ‘The $100 billion buyback announced is below the $110 billion announced a year ago, which we found as a bit of a head‑scratcher,’” said Angelo Zino of CFRA Research.
https://www.reuters.com/technology/apple-shares-fall-tariff-costs-add-more-agony-2025-05-02/
Apple forecast revenue growth in the current quarter at “mid to high single digits,” above prior guidance, despite projected $1.1 billion in tariff costs.
https://www.reuters.com/world/asia-pacific/apple-revenue-forecast-beats-estimates-tariff-costs-projected-11-billion-2025-07-31/
• Revenue up 10 percent in Q3 2025
• Buyback trimmed from $110 billion to $100 billion authorization
• Apple projects mid‑ to high‑single‑digit revenue growth despite tariffs
Although Apple stock rose nearly 300% over recent years, much of the upside reflects share repurchases—not accelerating cash or organic growth. The company’s declining cash reserves suggest fewer financial buffers going forward.