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iPhone maker Apple’s revenue grew by double digits in the December 2023 quarter, hitting a new record due to strong iPhone sales, company executives said on Friday.
“India grew revenue-wise, with strong double-digit growth and a revenue record in the December quarter,” Apple CEO Tim Cook said during Apple’s earnings call. .
Apple’s quarterly revenue increased 2% year-over-year to $119.6 billion, and its installed base of active devices now exceeds 2.2 billion, reaching an all-time high across all product and geographic segments.
The company’s revenue from iPhone increased about 6% from $65.77 billion to $69.7 billion in the reported quarter.
The company also posted record revenues in other emerging markets, including Malaysia, Mexico, the Philippines, Poland, Turkey, Indonesia and Saudi Arabia, Cook added.
According to market research firm Counterpoint Research, Apple will lead the Indian market for the first time in 2023 with the highest revenue, while Samsung will lead the way in terms of unit sales.
The company said in a recent report that Apple shipped more than 10 million devices, taking the top spot in sales for a calendar year for the first time.
iPad sales fell about 25% to about $7 billion in the December 2023 quarter.
Apple’s Wearables, Home and Accessories division reported sales of $11.95 billion in the reported quarter, down nearly 11% from $13.48 billion in the year-ago quarter.
Mac PC sales were nearly flat year-over-year at $7.7 billion.
Apple’s services revenue rose 11.3% to $23.11 billion in the December 2023 quarter from $20.76 billion in the year-ago period.
Apple’s net income for the year ended September 30, 2023 was $96.99 billion, down 2.8% from $99.8 billion in the same period last year.
The iPhone maker’s annual revenue also fell 2.8% from $394.32 billion in fiscal 2022 to $383.28 billion in the fiscal year ending September 30, 2023.
Annual iPhone sales decreased by 2.3% to $200.5 billion during the reporting year from $205.48 billion in the previous fiscal year.
Mac PC sales for the year were $29.35 billion, down about 27% from $40.17 billion year-on-year, and iPad sales were down 3.3% year-on-year to $28.3 billion.
Apple’s annual sales of wearables, home appliances and accessories also fell 3.3% to $39.84 billion from $41.24 billion a year ago.
Apple’s services revenue grew 9% from $78.12 billion in FY22 to $85.2 billion in FY23.
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