Apple’s Greater China sales jump 38% as quarterly revenue sets a record
Apple reported record revenue of $143.8 billion (€132.1 billion) for its fiscal first quarter, up 16% year on year, with Greater China revenue rising 38% to $25.53 billion (€23.5 billion). Jiemian attributed the rebound to demand for the iPhone 17 series, trade-in subsidies and localised features; Apple chief executive Tim Cook said mainland China also set records for upgraders and customers switching from rival platforms.
Bottom line — Greater China’s $25.53 billion (€23.5 billion) quarter was one of Apple’s strongest regional performances in years.
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Jiemian reported global iPhone revenue rose 23% and described it as the product’s best quarter.
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Apple said memory-chip price increases had a minimal effect on margins in the quarter, but Cook warned the impact could grow in the current period, according to Jiemian.
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Jiemian reported Services revenue rose 14% to $30.01 billion (€27.6 billion), its first quarter above $30 billion.
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Apple generated nearly $54 billion (€49.6 billion) in operating cash flow and returned about $32 billion (€29.4 billion) to shareholders, Jiemian reported.