Apple Posts $111.2B Quarter as iPhone Revenue Soars 22% Despite Constraints
GOOG•Apple reported record quarterly revenue of $111.2 billion, up 17% year-over-year, with iPhone sales surging 22% to $57 billion despite supply constraints. The June quarter guidance forecasts 14–17% revenue growth while warning of significantly higher memory costs that could pressure margins.
1. Record Quarterly Revenue and iPhone Growth
Apple delivered $111.2 billion in revenue, a 17% increase year-over-year, driven by an iPhone revenue jump of 22% to $57 billion as customers embraced the iPhone 17 family.
2. Supply Constraints Highlight Strong Demand
Management noted that production bottlenecks capped sales volume, and the June quarter guidance of 14–17% growth already factors in constrained device availability, underscoring unmet consumer demand.
3. Margin Pressure from Rising Memory Costs
Apple expects significantly higher memory costs in the June quarter and beyond, which could compress operating margins from the current three-year peak of 32.6%, making cost forecasts a key watchpoint.
