Apple sees largest revenue growth in April-June in nearly 4 years

By Mucahithan Avcioglu

ISTANBUL (AA) - US tech giant Apple reported its biggest quarterly revenue growth since December 2021 in the fiscal third quarter, with revenue increasing 10% year-on-year, according to the financial results by the firm released on late Thursday.

The revenue amounted to $94.04 billion in the April-June period, the data showed.

Apple's net income also saw an annual 9.2% rise in the same period, totaling $23.4 billion.

The earnings per share (EPS) of the tech giant grew 12% to $1.57 in the fiscal third quarter.

The financial results were above the market expectations for the quarter.

The iPhone, which saw a 13% annual growth in sales during the quarter to $44.58 billion, continues to be the company's most significant business.

During the June quarter, Apple's Mac division expanded at the quickest rate of all of its business segments, increasing by about 15% to $8.05 billion in sales.

Apple's services division, which includes content subscriptions, Apple warranties, and licensing agreements with Google and iCloud, grew by 13% over the same period to $27.42 billion.

“We are very pleased with our record business performance for the June quarter, which generated EPS growth of 12%,” said Kevan Parekh, Apple’s CFO.

“Our installed base of active devices also reached a new all-time high across all product categories and geographic segments, thanks to our very high levels of customer satisfaction and loyalty," he added.

In the after-hours trading on Thursday, Apple's stock rose 2.42% to $212.59.