Apple Logs Record-Breaking Revenue In India, Boosted By Mac Sales

This story was first published on the Benzinga India portal.

Apple Inc. AAPL has established a new revenue milestone in India, with Mac sales reaching unprecedented heights, the company said in its Q3 FY24 results.

What Happened: Apple’s quarterly revenue stood at $85.8 billion, a 5% year-over-year increase. Tim Cook, the CEO of Apple, announced in the company’s earnings call that the company had set new revenue records in more than two dozen countries, including India.

Apple’s CFO, Luca Maestri, said Mac revenue experienced a 2% year-over-year rise, attributing this growth to the robust performance of the M3-powered MacBook Air, especially in emerging markets like India and South Asia.

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While iPhone sales saw a slight decrease of 0.94% to $39.30 billion in the quarter, Mac and iPad sales witnessed a substantial surge. Mac sales increased by 2.46% to $7.01 billion, and iPad sales soared by 23.63% to $7.16 billion.

Despite a 2.26% drop in the wearables, home and accessories segment, Apple’s services revenue continued its upward trajectory, reaching $24.21 billion, a 14.14% increase compared to the previous year.

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