In the December quarter of 2023, Apple reported a revenue of $69.7 billion for its iPhone sales, marking a 6% increase compared to the same period the previous year. The tech giant achieved all-time revenue records in various countries and regions, including Latin America, Western Europe, the Middle East, Korea, India, and Indonesia.
Luca Maestri, Apple’s CFO, highlighted the company’s success, noting that the iPhone’s active install base reached a new all-time high. Additionally, there was a record number of iPhone upgraders during the quarter. Apple’s services revenue also reached an all-time high of $23.1 billion, showcasing an 11% year-over-year growth.
Maestri expressed satisfaction with the performance of Apple’s services in both developed and emerging markets, achieving all-time revenue records in the Americas, Europe, and the rest of Asia-Pacific. The Mac segment generated $7.8 billion in revenue, returning to growth despite one less week of sales compared to the previous year. Customer response to the latest iMac and MacBook Pro models, powered by the M3 chips, was positive, contributing to an all-time high in the Mac install base. Nearly half of Mac buyers during the quarter were new to the product.
However, iPad revenue experienced a decline of 25% year over year, amounting to $7 billion. Maestri attributed this decline to a challenging comparison, as the previous December quarter included the launch of the new iPad Pro and iPad 10th generation, along with an extra week of sales.
The Wearables, Home, and Accessories segment reported revenue of $12 billion, reflecting an 11% year-over-year decrease. This decline was attributed to a challenging launch comparison and the additional week of sales in the previous year.
Looking forward, Apple anticipates strong excitement in the enterprise sector with the upcoming launch of Apple Vision Pro. Leading organizations, including Walmart, Nike, Vanguard, Striker, Bloomberg, and SAP, have already started leveraging and investing in Apple Vision Pro to bring innovative spatial computing experiences to their customers and employees.