Apple Inc announced an all-time record quarter in India for the September-ending period.
“We grew in the vast majority of markets we tracked, setting September quarter records in the Americas, Europe, Greater China, and the rest of Asia-Pacific. We also set September quarter revenue records in both developed and emerging markets, in addition to an all-time record in India,” said John Ternus, Apple CEO during the earnings call.
The company posted quarterly revenue of $114.4 billion, up 12 per cent year-on-year and up 5 per cent sequentially.
iPhone revenue grew 17 per cent y-o-y basis to $57.5 billion, despite supply constraints and foreign exchange headwinds. The company delivered strong double digits in the US and greater China and set a September quarter record for upgraders worldwide including US, China mainland, and India. The company delivered its best fiscal year ever for upgraders globally.
“According to a recent survey from World Panel, iPhone was a top-selling model in the US, urban China, India, the UK, Germany, Australia, and Japan,” said Kevan Parekh, Apple CFO.
While the company’s gross margin held at 47.9 per cent, company and product gross margin declines by 1 point sequentially on removing the tariff refunds from both the June and September quarter. This is primarily driven by higher memory costs. Management expects gross margin for the December-quarter to be between 45-46 per cent. This includes primarily the impact of higher memory costs, as well as some costs related to the ramp of Siri AI.
“What we’re seeing with memory pricing right now is unprecedented. In the September quarter, we did see higher memory costs as compared to the June quarter, which were partly offset by the benefit of carry-in inventory and lower costs on certain non-memory components. For the December quarter, we expect even higher memory costs, ,” said Ternus, expecting a decreasing benefit from the carry-in inventory on memory over time.
Mac delivered a revenue of $10.7 billion, up 23.6 per cent from a year-ago, driven by the strength of the MacBook Neo and MacBook Pro. Apple reported a double-digit growth in both developed and emerging markets, with all-time records in markets like India and Southeast Asia.
Services revenue set an all-time record of $31.6 billion, up 10 per cent year-over-year despite over 1.5 points of sequential FX headwinds. We set all-time revenue records in the majority of markets we track, including several emerging markets like Latin America and India.
In the Asia Pacific region, excluding Greater China and Japan, revenue grew by 15 per cent annually to $9.7 billion.
Published on November 3, 2026
