Apple set a record for iPhone sales in its latest quarter even though it did not release a standard iPhone during its fall refresh. In its fourth-quarter earnings report released Monday, Apple reported $57.58 billion in iPhone revenue, a 17 percent increase from the same period a year earlier.
The gain came after Apple launched its iPhone 18 lineup in September, which included the pricier iPhone 18 Pro and Pro Max. Apple also raised prices on its older models at the same time. The company unveiled its first folding phone, the iPhone Duo, but preorder sales for that device are not included in this earnings report.
Apple has contended with supply chain constraints and rising memory costs, as have other device-makers, and has raised prices across its products. Apple had only a limited number of iPhone Duos available in stores at launch, with some estimated shipment dates stretching into 2027. CEO John Ternus said in an interview with CNBC that memory costs were higher than in the June quarter, partly offset by the benefit of carrying inventory and lower costs on non-memory components.
Overall revenue rose 12 percent to $114.5 billion. The Mac business grew 24 percent to $10.79 billion, while the services division, which includes App Store commissions and subscriptions to services such as Apple TV and Apple Music, reached $31.57 billion. iPad revenue fell 10 percent year over year to $6.23 billion.
The quarter also followed other major launches. Apple introduced its first smart home display and a line of video doorbells, security cameras, and door locks made in collaboration with LG and Schneider Electric. Last week, Apple also revealed a MacBook Pro with a touchscreen, a design choice its executives had famously resisted.
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