Apple has reported record September-quarter revenue of $114.5 billion, up 12 per cent on a year earlier, in the first results published under new chief executive John Ternus. The company said the quarter set records for total revenue, iPhone revenue and earnings per share, while its Services division reached an all-time high.

Diluted earnings per share rose 14 per cent to $2.10, and net income reached $30.7 billion, against $27.5 billion a year earlier. Gross margin was 47.9 per cent, helped by tariff refunds worth about one percentage point and $0.05 per share. iPhone revenue rose 17 per cent to $57.58 billion, while Mac revenue jumped 24 per cent to $10.79 billion, the fastest growth of any product line in the quarter.

Ternus took over from Tim Cook on 1 September, and these were his first results in the role. Apple said the record quarter capped its best fiscal year ever, with full-year revenue of $479 billion and net income of $132.2 billion, both records. The company also declared a quarterly dividend of $0.27 per share, payable on 16 November to shareholders of record on 12 November.

Looking ahead, Apple forecast revenue growth of 7 to 10 per cent for the December quarter, but guided gross margin down to 45 to 46 per cent, as surging memory prices squeeze profitability even while demand holds up. The warning shows how component costs are now shaping the outlook for even the world's most valuable company.

The results landed in a brutal week for technology shares, with the Nasdaq entering correction territory, yet Apple was described as the week's cleanest result among the big technology names. The strong quarter is a reminder that demand for its hardware and services remains intact. Apple's full results are published on its newsroom site.