Apple’s revenue surges 9.6% to $94 billion, marking its biggest jump in three years

New Delhi: Apple Inc. reported quarterly revenue of $94 billion, a 9.6% increase year-over-year, marking its highest quarterly revenue growth in more than three years.

The company reported a net profit of $24.8 billion, up 5.1%, and quarterly diluted earnings per share (EPS) of $1.57, a 12.1% rise.

Key highlights include iPhone sales reaching $44.6 billion, a 13.4% increase, driven by strong demand for the iPhone 16e. Services revenue hit a record $24.7 billion, up 13.2%, fueled by growth in the App Store, Apple Music, and iCloud. Mac revenue grew 7% and iPad revenue surged 15%, while the Wearables, Home, and Accessories category saw a 5% decline, attributed to a tough comparison with last year’s Apple Vision Pro launch.

Despite geopolitical challenges, Apple’s performance in China remained stable, with revenue of $15.4 billion.

Apple set quarterly revenue records in multiple markets, including the UK, India, and the Philippines, and plans to open new retail stores in India later this year in Bengaluru, Pune, Delhi-NCR, and an additional Mumbai location.