After two straight quarters of declining year-over-year sales, iPhone revenue has returned to growth.
Apple sold $46.2 billion worth of iPhones last quarter, or just under half its total revenue, beating analyst estimates and up year over year from $43.8 billion in Q4 2023. Notably, this quarter ending in September would include a half-month’s worth of new iPhone sales.
Apple doesn’t break out unit sales or which iPhone models contribute to that revenue number.
Before now, wireless-hardware sales from Verizon, AT&T, and T-Mobile didn’t paint a very rosy picture for sales of the latest iPhone. Survey data from Consumer Intelligence Research Partners showed that initial iPhone 16 sales were slower than that of the iPhone 15 a year earlier.
But it’s early yet.
The December quarter is Apple’s biggest of the year, since many people pick up the latest iPhone over the holidays. Bulls are hoping the inclusion of Apple Intelligence, which became widely available in the US this week, will spur adoption of new iPhones after years of consumers holding onto their devices longer. Of course, Apple Intelligence also works on the now less expensive iPhone 15.
