Apple sets revenue record thanks to iPhone 16 sales

Apple has released its financial report for the last quarter of its fiscal year, covering the period from July to September.

Here's What We Know

The company recorded revenue growth of 6%, driven by strong sales of the iPhone 16. Apple's total revenue for the quarter was $94.9 billion, reflecting continued growth in global markets.

Revenue growth was driven not only by iPhone sales, but also by increased sales of Macs, iPads and services. However, the wearable device category, which includes Apple Watch and AirPods, saw a slight decline of 3 per cent, which did not have a significant impact on the company's overall revenue. Apple CEO Tim Cook said the company set a new record for iPhone revenue in September.

Sales grew in all major geographic regions, fuelled by the launch of the new iPhone 16 models that went on sale in the last ten days of the quarter. This surge in demand emphasises the importance of the iPhone to Apple's financial success.

Source: GSMArena