Apple sees record revenue in India and 2-dozen other countries in Apr-Jun quarter

iPhone maker Apple has seen record revenue growth in India and over two dozen countries in the quarter ended on June 30, 2024, its CEO Tim Cook said on Friday.

Apple posted a 7.8% growth in net income to USD 21.44 billion in the June quarter of 2024 compared to USD 19.8 billion in the year-ago period.

The company recorded 4.8% growth in total net sales at USD 85.77 billion during the reported quarter from USD 81.79 billion in the June quarter of 2023.

"Apple is reporting a new June quarter revenue record of USD 85.8 billion, up 5% 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," Apple CEO Tim Cook said during the company's earning call.

The revenue of Apple from the 'Rest of Asia Pacific' geography, which includes India, Indonesia, the Philippines, and Thailand, grew by USD 760 million in the June quarter compared to the year-ago period.

Apple's iPhone sales declined by about a percent to USD 39.29 billion during the reported quarter from USD 39.66 billion a year ago.

Apple Mac sales grew 2.4% to over 7 billion from USD 6.8 billion and iPad sales were up 24% to USD 7.16 billion from USD 5.8 billion on a Y-o-Y basis.

"Mac generated USD 7 billion in revenue, up 2% Y-o-Y, driven by the MacBook Air powered by the M3 chip. We saw particularly strong performance in our emerging markets, with June quarter records for Mac in Latin America, India, and South Asia," Apple Chief Financial Officer Luca Maestri said.

He said Mac installed base reached an all-time high with half of MacBook Air customers in the quarter being new to Mac.

Apple's Wearables, Home and Accessories sales declined about 2% to USD 8 billion from USD 8.28 billion a year ago.