Apple reports record revenue in India and over 20 other markets

Apple performed very well in the June quarter, with CEO Tim Cook attributing the success to new revenue records in India and other regions. Cook said in an earnings call following the Q3 earnings announcement: “Apple is reporting a new revenue record for the June quarter of $85.8 billion, up 5 percent year over year and better than we expected… We also set quarterly revenue records in more than twenty-four countries and regions, including Canada, Mexico, France, Germany, the United Kingdom, India, Indonesia, the Philippines, and Thailand. We also set an all-time revenue record in Services, up 14 percent.”

He added, “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 center of iPhone, iPad and Mac. We can’t wait to bring these tools to our users and continue to invest significantly in innovations that enrich the lives of our customers, while being guided by the values ​​that drive our work.”

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Mac generates $7 billion in revenue

Senior vice president and CFO Luca Maestri said in the earnings call that the Mac generated $7 billion in revenue, up 2 percent year over year, driven by the M3-based MacBook Air. He said, “We delivered particularly strong results in our emerging markets, with record June quarter results for the Mac in Latin America, India, and South Asia.”

Apple’s iPhone sales fell about 1 percent to $39.29 billion in the reported quarter, from $39.66 billion a year earlier.

Tim Cook emphasized the importance of Apple Intelligence during the call and said that he “remains incredibly optimistic about the incredible capabilities of AI and its ability to enrich customers’ lives.”

He added: “We will continue to make significant investments in this technology and commit to the innovation that unlocks its full potential. With each innovation, we unlock new ways of working, new ways of learning, and new ways of experiencing the limitless promise of human potential. We do this with every product and every service.”