Apple posts record revenue in India in September quarter; iPhone, Mac sales drive growth

Apple Inc reported an all-time revenue record in India in the September quarter, with strong growth in iPhone and Mac sales and rising demand for its services, as the technology major posted its best-ever annual financial performance.

Apple's iPhone business recorded revenue of $57.6 billion in the September quarter, up 17% from a year ago, despite supply constraints and foreign exchange headwinds.

“We grew in the vast majority of markets we track, setting September quarter records in the Americas, Europe, Greater China, and the rest of Asia-Pacific,” CEO John Ternus said during the company's earnings call on Monday.

“We also set September quarter revenue records in both developed and emerging markets, in addition to an all-time record in India,” he added.

The company also reported all-time revenue records for Mac in emerging markets, including India and Southeast Asia.

Services revenue globally rose 10% to $31.6 billion in the September quarter, its highest ever, driven by growth across video, cloud services, payment services and advertising.

Highlighting its expansion in India's payments market, Ternus said Apple Pay was recently launched in the country in partnership with Axis Bank.

"Apple Pay is available in over 90 markets, giving customers around the world peace of mind built into every transaction," he said.

The India performance comes as Apple reported global revenue of $114.5 billion for the September quarter, up 12% year-on-year, marking a record for the period.

For the full fiscal year, the company posted revenue of $478.8 billion, an increase of 15%, while earnings per share rose 20% to $8.98.

Apple's iPhone business generated $57.6 billion in revenue, while services contributed $31.6 billion. Mac revenue stood at $10.8 billion.

Apple reported a record number of paid subscriptions, crossing 1.5 billion globally during the quarter.

The company expects revenue in the December quarter to grow between 7 and 10% year-on-year, which would make it the highest-revenue quarter in its history, Chief Financial Officer Kevan Parekh said.

The September quarter was the first earnings call attended by Ternus as Apple's CEO, following his elevation to the top position.