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Apple reports double-digit growth in India

According to Chief Executive Officer (CEO) Tim Cook on the company’s fourth-quarter results calls, Apple generated record September quarter sales despite stronger-than-expected foreign currency headwinds, with significant double-digit growth in India.

Refinitiv figures show that the iPhone manufacturer’s September quarter revenue was $90.1 billion, up 8% from the same period last year and higher than experts’ projections of $88.90 billion. Refinitiv estimates that the company’s net income for the quarter was $20.7 billion (or $1.29 per share), up 4% from the prior year and higher than analysts’ predictions of $1.27 per share. The company’s product revenue increased 9% year over year to $71 billion in the fourth quarter. For the iPhone and wearables, Home and accessories, and Mac, it was a September quarter revenue record as well as an all-time record, according to Apple Chief Financial Officer (CFO) Luca Maestri.

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