Tim Cook ‘excited by the enthusiasm’ in India as Apple sets all-time revenue record

Apple CEO Tim Prepare dinner stated the corporate continues “to be excited by the keenness” it’s seeing in India, the place the iPhone maker set an all-time income document throughout the September quarter because the iPhone gross sales returned to development globally after two quarters.

“We will’t wait to convey 4 new shops to prospects in India,” Prepare dinner stated throughout the fourth-quarter earnings name.

“Apple is reporting income of $94.9 billion, a September quarter document and up 6% from a yr in the past. iPhone grew in each geographic section, marking a brand new September quarter income document for the class,” Prepare dinner famous.

The California-based firm reported internet gross sales development within the Americas, Europe, Japan, and Asia-Pacific (together with India), whereas gross sales in China—its third-largest market—had been barely down for the September quarter and dropped 7.7% for the monetary yr.

In the meantime, the iPhone maker’s backside line took successful as the corporate paid a one-time cost as a part of a tax determination in Europe. In This autumn, Apple’s internet revenue fell to $14.7 billion, down 35.8% year-over-year (YoY).

“Through the quarter, we recorded a one-time earnings tax cost of $10.2 billion, which pertains to the affect of the reversal of the European Normal Courtroom’s State Support determination,” Apple Chief Monetary Officer Luca Maestri famous throughout the earnings name.

“Once we exclude this one-time cost, internet earnings was $25 billion and diluted earnings per share had been $1.64, up 12% year-over-year, and a September quarter document,” he added.

The tech big wrapped up FY24 with a income of $391 billion, exhibiting a 2% YoY rise, and a internet revenue of $93.7 billion, down 3.3% YoY.

iPhone and providers

Whereas Apple’s flagship smartphones have pushed the corporate’s gross sales, its providers section has been steadily rising and changing into an more and more vital income.

After two quarters of dip in iPhone gross sales, the income from the smartphones rose 5.5% to $46.2 billion within the fourth quarter.

In September, the tech big launched its newest flagship smartphones, the iPhone 16 Professional and iPhone 16 Professional Max, alongside the iPhone 16 and iPhone 16 Plus powered by Apple Intelligence—the corporate’s very personal model of synthetic intelligence.

Through the name, Prepare dinner stated Apple believes Apple Intelligence is a “compelling improve motive”.

That stated, Apple expects its December quarter complete firm income to develop “low- to mid-single digits” year-over-year, in accordance with Maestri.

Transferring to the service income, Maestri anticipated it to “develop double-digits” at a fee much like what Apple reported within the fiscal yr 2024. Companies income in FY24 was $96.1 billion, up 12.9% YoY. Within the September quarter, it grew 12% to $25 billion.

In different classes, akin to Mac and iPad, internet gross sales grew for the quarter, whereas gross sales for wearables, dwelling, and equipment declined. For the fiscal yr 2024, Mac gross sales elevated, however the different two classes noticed a lower.

In This autumn, Mac income was $7.7 billion (up 2% year-over-year), iPad income reached $7 billion (an 8% improve), whereas income from wearables, dwelling, and equipment totalled $9 billion (down 3% from the earlier yr).

In line with the CFO, Apple skilled robust efficiency in lots of rising markets for the iPad, together with double-digit development in India and others.

General, gross sales of Apple merchandise within the September quarter reached $70 billion, a 4.1% improve YoY, whereas gross sales for fiscal yr 2024 decreased by 1% to $294.9 billion.

Apple Intelligence

Apple has expanded its product line-up with Apple Intelligence, with new launches this week, together with a brand new iMac, that includes the M4 chip; an all-new Mac mini powered by the M4 and new M4 Professional chips; a brand new MacBook Professional, powered by the M4 household of chips, which bought two new chips—M4 Professional and M4 Max—together with M4. All these new merchandise may have entry to Apple Intelligence.

There may be additionally assist for a spread of older units: iPad Professional, iPad Air, MacBook Air, MacBook Professional, iMac, Mac mini (all that includes M1 chips or newer), Mac Studio with M1 Max or later, Mac Professional with M2 Extremely, alongside iPhone 15 Professional and iPhone 15 Professional Max.

Earlier within the week, Apple made the primary set of Apple Intelligence options obtainable in US English for iPhone, iPad, and Mac.

“We’re getting quite a lot of constructive suggestions from builders and prospects. And, the truth is, in the event you simply have a look at the primary three days, which is all now we have clearly from Monday, the 18.1 adoption is twice as quick because the 17.1 adoption was within the year-ago quarter,” Prepare dinner stated

“There’s positively curiosity on the market for Apple Intelligence,” he added.