Apple posts record September-quarter revenue, surpasses analyst forecasts
Apple reported $114.5 billion in revenue for its September quarter, beating expectations and reinforcing its position as the world’s most valuable company.
Apple announced revenue of $114.48 billion for its September quarter, exceeding analysts' consensus estimate of $113.46 billion. The results were driven by strong demand for the newly launched iPhone 18 Pro series and a record performance in the Services segment.
"Today, Apple is proud to report a September-quarter revenue record of $114.5 billion, up 12 percent from a year ago, with iPhone reaching a September-quarter record and Services reaching an all-time high, capping off our best fiscal year ever," CEO John Ternus said.
"We’re closing the year with our most ambitious lineup yet. That includes the iPhone Duo, the most transformational iPhone since the original, alongside iPhone 18 Pro and iPhone 18 Pro Max, our most powerful iPhones yet. We also just introduced a whole new generation of hardware for the home and brought Touch to Mac for the first time. Together with the all-new Siri AI, it’s an incredible lineup to carry us into the holiday season," Ternus added.
iPhone sales generated $57.58 billion, topping the $56.48 billion forecast, while Services revenue reached $31.57 billion, essentially meeting expectations. The Mac, wearables, and iPad divisions contributed $10.79 billion, $8.30 billion, and $6.23 billion respectively. China sales fell short of estimates, delivering $17.54 billion against a projected $18.75 billion.
Earnings per share were $2.10, above the $1.99 consensus. Shares slipped about 2 percent in after-hours trading but have risen roughly 22 percent since June, adding about $1.4 trillion to market value. Apple now trades at a valuation of roughly 35 times forward earnings, nearly double the S-P 500 average.
The company also noted that demand for the new iPhone Duo foldable phone has been strong, with delivery timelines extending into the next year. Apple acknowledged isolated reports of screen cracking on a small number of devices sold in Australia.
Apple overtook Nvidia to become the world’s most valuable company, with a market capitalization of $5.03 trillion. The broader tech sector has faced a sell-off, with major peers such as Alphabet, Meta, and Intel posting sizable declines in October.