{
  "id": 17917938,
  "title": "India shines in Apple’s record September quarter",
  "url": "https://urgent.news/2026/11/03/india-shines-in-apples-record-september-quarter",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-03T05:28:34.000Z",
  "source": {
    "name": "YourStory",
    "slug": "yourstory",
    "url": "https://yourstory.com/2026/11/india-shines-in-apples-record-september-quarter"
  },
  "original_language": "en",
  "account": "India became Apple's standout growth market in the fourth quarter of fiscal year 2026, achieving a new all-time revenue record. Apple CEO John Ternus revealed that September quarter revenue also set fresh records in both developed and emerging markets. India's strong performance was driven by iPhone upgraders, with the iPhone being ranked among the top-selling smartphones in the country according to Worldpanel survey data. Mac sales also set an all-time revenue record in India, fueled by demand for the new MacBook Neo and MacBook Pro. Apple launched Apple Pay in India in partnership with Axis Bank, bringing digital payments to one of the world's largest markets. CFO Kevan Parekh expressed optimism about Apple's services business.\n\nOn a global scale, Apple generated total revenue from operations of $114.48 billion for Q4, an 11.72% increase compared to the same quarter in 2025. For the entire fiscal year, total revenue reached a record $478.83 billion, up 15.06% year-over-year. Net profit for the year hit $132.18 billion, a 18% increase year-over-year. Revenue was split into two main categories: product revenue, which accounted for 72.42% of total revenue at $82.90 billion, and services revenue, which made up 27.58% at $31.57 billion. iPhone sales led the product segment with $57.58 billion (50.30% of total revenue), growing 17.46% year-over-year due to global upgrader records and demand for the iPhone 18 Pro and foldable iPhone Duo. Services revenue hit an all-time record of $31.57 billion, up 9.82% year-over-year due to strong cloud, video, and payment revenues, with paid subscriptions surpassing 1.5 billion. Mac revenue grew 23.68% year-over-year to $10.79 billion, driven by the success of the MacBook Neo and global market share gains. However, wearable, home, and accessories revenue declined 7.91% year-over-year due to tough comparisons from the previous year. iPad revenue fell 10.40% year-over-year due to supply constraints. Apple's profit after tax rose 11.81% year-over-year to $30.71 billion, compared to $27.47 billion in Q4 of 2025. On a full-year basis, EBITDA (earnings before interest, tax, depreciation, and amortization) reached $171.49 billion, representing a 35.81% margin on $478.83 billion in revenue. Apple's total cost of sales amounted to $59.66 billion, up 10.22% year-over-year, while total operating expenses jumped 20.58% year-over-year to $19.19 billion.",
  "summary": "Apple achieved an all-time revenue record in India during CEO John Ternus’s debut quarter, as global revenue reached $114.48 billion despite unprecedented memory cost inflation.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "Apple forecasts rising costs, lower services; shares slip",
        "url": "https://urgent.news/2026/11/02/apple-forecasts-rising-costs-lower-services-shares-slip",
        "published": "2026-11-02T21:31:17.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Apple forecasts rising costs, lower services; shares slip",
        "url": "https://urgent.news/2026/11/02/apple-forecasts-rising-costs-lower-services-shares-slip-17882430",
        "published": "2026-11-02T23:56:07.000Z"
      },
      {
        "outlet": "The Indian Express",
        "title": "Apple forecasts margin drop in holiday quarter as rising memory costs bite",
        "url": "https://urgent.news/2026/11/03/apple-forecasts-margin-drop-in-holiday-quarter-as-rising-memory-costs",
        "published": "2026-11-03T03:11:56.000Z"
      },
      {
        "outlet": "BusinessKorea",
        "title": "Apple Struggles with Rising Memory Costs",
        "url": "https://urgent.news/2026/11/03/apple-struggles-with-rising-memory-costs",
        "published": "2026-11-03T04:12:51.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}