Apple introduced its stability sheet for the 3-month interval ending on March 30, which it considers because the second quarter of the 2024 fiscal yr.
Accordingly, the corporate's income decreased by 4 p.c yearly within the stated interval to 90.8 billion {dollars}. The corporate earned $94.8 billion in income in the identical interval final yr.
Market expectation was that Apple's income can be $90.01 billion within the stated interval.
Apple's internet revenue decreased by 2 p.c to 23.6 billion {dollars} in the identical interval. The corporate's internet revenue was recorded as 24.2 billion {dollars} in the identical interval of 2023.
The corporate's revenue per share elevated from $1.52 to $1.53 within the stated interval.
Apple additionally introduced a $110 billion share buyback. The quantity in query was the biggest share repurchase quantity within the firm's historical past.
iPHONE SALES DECREASED BY OVER 10 PERCENT
Throughout this era, whereas Apple's smartphone and pill gross sales decreased, laptop gross sales elevated.
The quantity of iPhone gross sales decreased by 10.5 p.c within the 3-month interval ending March 30 in comparison with the identical interval final yr, falling to 45.9 billion {dollars}.
In the identical interval, the quantity of iPad gross sales decreased by 16.7 p.c to five.56 billion {dollars}, whereas the quantity of Mac gross sales elevated by 3.9 p.c to 7.5 billion {dollars}.