Apple’s iPhone revenue reaches $43.8 billion in September quarter
New Delhi, Nov 3 (@DelhiBreakings.com) ★Apple registered $43.8 billion in iPhone revenue in the September quarter, up 3% year-over-year (YoY) and a new quarter record.
Summary:
- Apple’s iPhone revenue for the September quarter reaches $43.8 billion, a new quarter record.
- iPhone 15 series performing better than the iPhone 14.
- Apple Services revenue sets an all-time record of $22.3 billion.
- Mac revenue declines by 34% YoY due to challenging market conditions.
- iPad and Wearables, Home and Accessories revenue also decline.
In the quarterly earnings report on Thursday, Apple CEO Tim Cook stated that the iPhone 15 was performing better in its early days than the iPhone 14 last year at the same time. The iPhone 15 series, which was made available on September 22, received a positive response globally, including in India. Cook mentioned that customers are loving the entire iPhone 15 family and reviews have been exceptional.
According to industry experts, Apple experienced strong growth momentum during the quarter, driven by aggressive double-digit growth in its old-generation iPhones. Prabhu Ram, Head–Industry Intelligence Group at CMR, stated that the premiumisation trend continued to steer Apple’s iPhone market growth.
Apple’s Services revenue also set an all-time record of $22.3 billion, up 16% YoY. The growth in Services accelerated sequentially from the June quarter, with new revenue records in the Americas, Europe, rest of Asia-Pacific, and a September quarter record in Greater China. Luca Maestri, Apple’s CFO, highlighted that the company also set new records in every Services category.
However, Mac revenue was $7.6 billion, down 34% YoY, which Maestri attributed to challenging market conditions and a difficult comparison with the previous year’s business performance. He explained that supply disruptions in the June quarter of the previous year resulted in significant pent-up demand, which was fulfilled during the September quarter. Similarly, iPad revenue declined by 10% YoY due to the same supply disruptions and subsequent fulfillment of pent-up demand.
Wearables, Home, and Accessories revenue was $9.3 billion, down 3% YoY. Apple Watch, however, continues to expand its reach, with nearly two-thirds of customers purchasing the product during the quarter being new to it.
In conclusion, Apple’s iPhone revenue reached a new record of $43.8 billion in the September quarter, with the iPhone 15 series performing better than its predecessor. The company also achieved all-time high revenue in Services, but faced challenges in Mac, iPad, and Wearables, Home, and Accessories revenue.
–@DelhiBreakings.com
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