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Apple’s revenue decreased
The revenue of Apple, one of the US technology giants, was above market expectations with 90.8 billion dollars, although it decreased by 4 percent annually in the 3-month period ending on March 30.
Apple announced its balance sheet for the 3-month period ending on March 30, which it considers as the second quarter of the 2024 fiscal year.
Accordingly, the company’s revenue decreased by 4 percent annually in the said period to 90.8 billion dollars. The company earned $94.8 billion in revenue in the same period last year.
Market expectation was that Apple’s revenue would be $90.01 billion in the said period.
Apple’s net profit decreased by 2 percent to 23.6 billion dollars in the same period. The company’s net profit was recorded as 24.2 billion dollars in the same period of 2023.
The company’s profit per share increased from $1.52 to $1.53 in the said period.
Apple also announced a $110 billion share buyback. The amount in question was the largest share repurchase amount in the company’s history.
iPhone sales decreased by more than 10 percent
During this period, while Apple’s smartphone and tablet sales decreased, computer sales increased.
The amount of iPhone sales decreased by 10.5 percent in the 3-month period ending March 30 compared to the same period last year, falling to 45.9 billion dollars.
In the same period, the amount of iPad sales decreased by 16.7 percent to 5.56 billion dollars, while the amount of Mac sales increased by 3.9 percent to 7.5 billion dollars.