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Apple reported its highest-ever quarterly revenue in India, driven by record iPhone upgrade activity, stronger Mac demand, and growth in services. The milestone came as global quarterly revenue rose 12% from a year earlier to USD 114.5 billion.
Apple also posted its strongest annual financial results, with fiscal-year sales reaching USD 478.8 billion and earnings per share rising 20%. The company linked its performance to higher device upgrades and an expanding base of paying customers.
In his first earnings call as chief executive, John Ternus said India delivered an all-time revenue record. He also cited September-quarter records across major regions and developed and emerging markets. What drove Apple's record quarter in India? Its results pointed to demand for iPhones and Macs alongside growth in digital services.
Apple's global iPhone sales grew 17% year over year to USD 57.6 billion in the September quarter. The increase came despite supply limits and currency pressures. The company recorded strong double-digit iPhone growth in the United States and Greater China. It also set a September-quarter record for customers upgrading their iPhones worldwide.
India ranked among the markets that reached a new quarterly high for iPhone upgrades. The United States and mainland China also reached that mark. Chief Financial Officer Kevan Parekh said the active iPhone installed base climbed to an all-time high. Apple also recorded its best fiscal year for upgrades across several markets, including India and Japan.
Parekh cited a Worldpanel survey showing that iPhones ranked among the top-selling smartphone models in India. The same survey identified leading iPhone models in the United States, urban China, the United Kingdom, Germany, Australia and Japan.
Mac revenue rose 24% from a year earlier to USD 10.8 billion worldwide. Apple attributed the increase to demand for the MacBook Neo and MacBook Pro. The segment grew despite supply constraints, which also affected parts of its device business during the quarter.
India and Southeast Asia each set an all-time revenue record for Mac. Apple also recorded double-digit growth across both developed and emerging markets. Parekh said emerging markets helped Mac achieve its strongest fiscal year in those regions. New customers and existing owners buying upgraded machines contributed to the performance.
The Mac results broadened India's contribution beyond iPhone sales. In the same September period, the country set new highs for iPhone upgrades and Mac revenue. Apple reported quarterly records across several parts of its business, rather than relying on a single product category. The results also reflected demand from both first-time Mac buyers and existing users.
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Apple's Services division generated USD 31.6 billion worldwide during the September quarter, an increase of 10% year over year. That marked a new global high for the business. The company also reached its highest-ever Services revenue in India and Latin America, alongside records in most markets it tracks.
Services include the App Store, Apple Music, iCloud, Apple TV and payment products. Apple said growth came from video, cloud services, payment services and advertising. Meanwhile, its paid subscriptions passed 1.5 billion worldwide. Both transacting accounts and paid accounts also reached new highs during the quarter.
Ternus said Apple Pay recently launched in India through a partnership with Axis Bank. The service now operates in more than 90 markets, according to the company. That expansion added another part of Apple's Services offering to its India presence.
For the full fiscal year, Apple reported USD 478.8 billion in revenue, up 15%, while earnings per share reached USD 8.98. Parekh expects December-quarter sales growth of 7% to 10% from a year earlier. If that forecast holds, the coming period would become Apple's highest-revenue quarter on record.
Apple achieved record September-quarter revenue in India alongside new highs for Mac and Services. Worldwide, iPhone revenue reached USD 57.6 billion, while annual sales climbed to USD 478.8 billion. The company also expanded Apple Pay into India and projected further global revenue growth for the December quarter.