Apple announced a remarkable performance in its earnings for the September quarter, with a notable year-over-year increase in iPhone revenue, despite only a brief period of iPhone 15 sales factored into the results.
However, other hardware divisions within the company experienced declines, leading to a fourth consecutive quarter of overall sales downturns. Apple generated $89.5 billion in revenue for the quarter.
CEO Tim Cook expressed that the iPhone 15 lineup exhibited stronger early traction compared to the 14 series.
He stated, “When you examine the performance of the iPhone 15 during that period and compare it to the iPhone 14 in the same timeframe last year, the iPhone 15 outperformed the iPhone 14.” Cook also noted that the Pro and Pro Max models were currently facing supply constraints.
The Mac division encountered a substantial 34 per cent decline in revenue year over year, prompting Apple to hold its M3 event earlier in the week, where they introduced updated MacBook Pros and a refreshed iMac.
Cook characterised the current PC consumer market as “challenging” and expressed optimism for a better quarter for the Mac in the upcoming December quarter, citing the presence of the M3 and new products.
iPad revenue saw a 10 per cent decrease due to the absence of recent models, while wearables revenue experienced a more modest 3 per cent decline.
Apple’s services unit continued to be a reliable source of revenue, with a 16 per cent year-over-year increase. Cook highlighted that “every main service achieved a record.”
Looking ahead to the holiday shopping season, Apple’s CEO is optimistic about the company’s position, stating, “We now offer our most robust product lineup ever for the holiday season, including the iPhone 15 series and our first carbon-neutral Apple Watch models, a significant milestone in our commitment to making all Apple products carbon neutral by 2030.”