Apple seeds growth in India as revenue jumps 17%, Cook flags huge opportunity

Apple came in well above Wall Street estimates in its first earnings report since it announced that CEO Tim Cook would be stepping down. The $4-trillion tech company reported $111.2 billion of revenue in the three months to the end of March, up 17 per cent year-on-year. The company forecast sales will rise 14 per cent to 17 per cent in the period running through June.

The outgoing CEO said during the earnings call that India represents a “huge opportunity”, noting it is the world’s second largest smartphone market and third largest PC market. Despite strong recent performance, Apple still holds only “a modest share”.