Apple’s revenues beat estimates with iPhone sales
Apple announced its balance sheet for the January-March period.
According to the statement made by Apple, in the quarterly balance sheet, which is considered as the second quarter and ended on April 1, the company’s revenue decreased by 3 percent compared to the same period of the previous year, to 94.8 billion dollars. The company had a revenue of $ 97.3 billion in the same period of last year.
Despite the recorded decline, the company’s revenue, which exceeded market expectations, was expected to be $ 92.9 billion in this period.
Apple’s net profit, which was $25 billion in the same period last year, decreased by 3.4 percent to $24.2 billion. The company’s earnings per share remained unchanged during this period, at $1.52.
– Record in service revenues
In this period, while Apple’s smartphone sales increased, tablet and computer sales decreased.
The amount of iPhone sales increased by 1.5 percent in the January-March period compared to the same period last year, reaching $51.3 billion. The expectation was $49 billion.
In the same period, iPad sales fell 12.8 percent to $6.7 billion, while Mac sales fell 31.3 percent to $7.2 billion.
Apple CEO Tim Cook stated that despite the difficult macroeconomic conditions, the company’s financial results broke records in service revenues.
Noting that a record January-March record was broken in iPhone sales, Cook stated that they are pleased to raise their installed base of active devices to an all-time high.
Cook said they continue to make long-term investments, including making progress towards creating carbon-neutral products and supply chains by 2030.