My Apple 3Q25 Earnings Estimates, Above Avalon Expectation Meters

Written By Neil Cybart

Happy Wednesday.

A few quick housekeeping items.

Daily Updates Schedule. With Apple releasing earnings tomorrow (Thursday) after market close, the next update will go out on Friday.

Updated / Revised Financial Models. My updated Apple earnings model (works with Excel and Numbers) is now available to members with the Financial Models add-on attached to their Above Avalon Daily subscription. For those of you with the add-on, log into the Above Avalon payer portal (here). Once signed in, go to the "Digital Package" tab which will bring you to your personalized page where the model can be downloaded. In addition to the updated earnings model being available, my iPhone, iPad, and Apple Watch installed base models have also been updated ahead of Apple earnings. If you are interested in accessing these models, learn more about the Financial Models add-on by going to this page.

Let’s jump in.

My Apple 3Q25 Earnings Estimates

Here are my expectations for Apple’s key 3Q25 metrics:

  • Revenue: $89.9B (consensus is at $89.2B).

  • EPS: $1.47 (consensus is at $1.43).

  • iPhone revenue: $40.9B.

  • Services:

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Neil Cybart
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Initial Thoughts on Apple’s Strong 3Q25 Earnings
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Thoughts Heading Into Apple’s 3Q25 Earnings Release