Apple Revenues Up 8 Percent to $102.5 Billion

Apple reported that it earned a net income of $27.5 billion on revenues of $102.5 billion in the quarter ending September 27. Those figures represent gains of 86 percent and 8 percent, respectively, year-over-year.

“Today, Apple is very proud to report a September quarter revenue record of $102.5 billion, including a September quarter revenue record for iPhone and an all-time revenue record for Services,” Apple CEO Tim Cook said. “We are excited to be sharing our most extraordinary lineup of products as we head into the holiday season.”

The iPhone is Apple’s biggest product by far, with revenues of $49 billion in the quarter, a gain of 6 percent YOY. That figure missed expectations slightly. But Apple expects even bigger numbers from the iPhone in the current quarter, and if its prediction of double-digit growth is correct, it could be the best-ever quarter for this product line. Apple declined to say how well the new iPhone Air is selling, and it always declines to report on the model mix for competitive reasons.

Services was again Apple’s second-biggest business with $28.8 billion in revenues, a gain of 13 percent YOY. Mac revenues were up 13 percent to $8.7 billion. And revenues from iPad were down slightly to 6.95 billion, as were revenues from Wearables, Home and Accessories, at $9 billion.