Despite a truncated quarter, the company showcases resilience with a reported revenue of $119.6 billion, an increment of 2% from the previous year, and an EPS of $2.18. This upswing is echoed in the setting of revenue records across more than two dozen countries, including all-time highs in Europe and the Asia Pacific outside of China, with pronounced double-digit ascents in a plethora of emerging markets.
The instrumentation of growth is diverse: with their new flagship device, Apple Vision Pro, the company strides into the era of spatial computing. The anticipation for this device is palpable, as it's built upon a bevy of innovations and promises experiences previously unfathomed. The iPhone 15 series also makes a strong impression with both critics and consumers, contributing to an iPhone revenue of $69.7 billion, marking a 6% year-over-year increase. Mac's revenue ascends modestly by 1% year-over-year, amounting to $7.8 billion, thanks to the newly launched M3-powered MacBook Pro models. Conversely, iPad experiences a downturn, with revenue trimming by 25% year-over-year to $7 billion. The Wearables, Home, and Accessories category similarly reports a decline, with $12 billion in revenue, a decrease of 11% from the previous year. Nevertheless, the Services sector shines with an all-time high revenue record of $23.1 billion, aggregating an 11% year-over-year hike.
The company reported a robust company gross margin of 45.9%, an elevation driven by leveraging and favorable mix, despite the adversities posited by foreign exchange headwinds. Majestically, net income reached $33.9 billion, a swell from last year by $3.9 billion, and a record diluted EPS of $2.18. The operating cash flow remained strong at $39.9 billion. Maintaining a determined stance on returning capital to shareholders, nearly $27 billion was returned during the quarter, inclusive of $3.8 billion in dividends and equivalent, and $20.5 billion via open market repurchases of 112 million Apple shares.
As the company strides into the forthcoming March quarter, they maneuver with caution, envisaging a foreign exchange revenue headwind of about 2 percentage points on a year-over-year basis. Notably, last year's March quarter enjoyed a close to $5 billion revenant from the iPhone 14 Pro and Pro Max channel inventory replenishments post-supply constraints, an event unlikely to repeat. Looking ahead, the Services business aspires to perpetuate a similar double-digit growth rate to the December quarter, with expected gross margins between 46% and 47%, operating expenses ranging from $14.3 billion to $14.5 billion, and an anticipated tax rate near 16%. Investors may look forward to a declared cash dividend of $0.24 per share, payable come February 15, 2024.
Tim Cook expresses unwavering excitement for the company's products, highlighting the distinct journey of the new innovatory Vision Pro and its anticipated consumer and developer response. The iPhone continues to display strong performance in various geographical segments including China where, despite a mid-single-digit descent in constant currency, it retains its stronghold. Adjustments to embrace new regulations in Europe will present alternate billing and app marketplace opportunities, as well as NFC capabilities, beginning in March. Although these changes will predominantly affect the 7% of global App Store revenue attributed to the EU market, their future influence remains speculative. In terms of product adoption, the iPhone 15 has excelled over the iPhone 14 in comparable periods, stirring excitement due to record upgraders.
Amidst inquiries regarding competitive landscapes and operational disruptions, executives maintained a poised and confident demeanor. Foremost among the discussion topics is the future of generative AI, a domain in which the company pledges thrilling revelations later in the year. The consummation of generative AI prospects and their potential influence on capital expenditures underline Apple's enduring commitment to invest aptly across all spheres of business innovation.