Apple has hit a new milestone in its June quarter performance and reported a revenue of $85.8 billion, representing a 5 per cent year-over-year (YoY) growth, exceeding projections. During the earnings call, Apple CEO Tim Cook emphasised the company’s strong global presence, noting that Apple set new quarterly revenue records in more than 25 countries, including major markets such as Canada, Mexico and several European nations like France, Germany and the UK, as well as emerging markets in Asia such as India, Indonesia, the Philippines and Thailand.
These regions contributed significantly to Apple’s overall revenue, helping the tech giant surpass its projected earnings for the period.
Apple’s Record Revenue In India, Canada, The UK, More
“Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 per cent from a year ago, and better than we had expected… We also set quarterly revenue records in more than two dozen countries and regions, including Canada, Mexico, France, Germany, the UK, India, Indonesia, the Philippines, and Thailand. And we set an all-time revenue record in services, which grew 14 per cent,” Cook said in the earnings call after Apple’s third quarter results were announced.
“During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence, a breakthrough personal intelligence system that puts powerful, private generative AI models at the core of iPhone, iPad, and Mac. We very much look forward to sharing these tools with our users, and we continue to invest significantly in the innovations that will enrich our customers’ lives, while leading with the values that drive our work,” Cook added.
The Apple CEO also pointed out a significant achievement in the services sector, which experienced a 14 per cent increase, resulting in an all-time high for revenue in that segment.
Apple’s Mac Line Shines
According to Apple’s Chief Financial Officer, Luca Maestri, the Mac product line brought in $7 billion in revenue, showing a 2 per cent growth compared to the same period last year. This uptick was largely attributed to the success of the M3 chip-equipped MacBook Air. Maestri noted the Mac’s robust performance in developing markets, noting that sales hit new June quarter highs in regions such as India, Latin America and South Asia.