Apple Inc. posted its highest-ever quarterly revenue, driven by strong demand for the iPhone 17 lineup in India and other emerging markets, highlighting the country’s growing role in the company’s global growth strategy.
For the quarter ending December 27, revenue rose nearly 16% year-on-year to $143.8 billion, while net income reached a record $42.1 billion. iPhone sales were the primary contributor, generating $85.3 billion. CEO Tim Cook noted accelerating momentum in newer markets, with India showing strong double-digit revenue growth. He added that the iPhone achieved “all-time” records across every geographic segment.
The results underscore Apple’s strategy to expand beyond mature markets such as the US and Europe, with India increasingly central to both sales and manufacturing growth.
Apple’s Services segment also reached a milestone, surpassing $30 billion in revenue for the first time. This unit, which includes the App Store, Apple Music, and iCloud, benefits from a global installed base exceeding 2.5 billion active devices. The company is further investing in “Apple Intelligence,” its AI platform, including a collaboration with Google to enhance Siri through a mix of on-device processing and private cloud computing.
However, Mac revenue fell 7%, reflecting challenging year-on-year comparisons, and Wearables declined 2% due to supply constraints for the new AirPods Pro 3.
CFO Kevan Parekh highlighted that record performance and strong margins drove a 19% increase in EPS, generating nearly $54 billion in operating cash flow, with $32 billion returned to shareholders. Apple expects the momentum to continue into the spring quarter, even as rising memory component costs remain a broader industry challenge.
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