Apple sold enough iPhones and services last quarter to reverse a downward revenue trend

after four consecutive quarters of revenue decline, Apple bucked the trend and reported its first period of revenue growth today. In it Earnings report for the first quarter of fiscal year 2024The company announced that its quarterly revenue was $119.6 billion, which is a 2 percent increase compared to the same period last year.

In addition, Apple CEO Tim Cook said that “the installed base of active devices now exceeds 2.2 billion, reaching an all-time high across all products and geographic segments.” This quarter includes proceeds from sales iPhone 15 line It was introduced in September 2023, which clearly affected performance.

“Today, Apple reports revenue growth for the December quarter driven by iPhone sales and an all-time revenue record in Services,” he said. video, as well as December quarter records in the App Store and Apple Care.” Cook noted some of the updates to the Apple TV app, including the nominations and awards that TV+ content has won.

During the company’s earnings call, Cook reminded us that tomorrow is the launch day for the Vision Pro headset, which he called historic. Apple is committed to investing in new technologies, Cook said, adding that the company will share more information about its AI developments later this year.

While sales in the Mac department were up year-over-year, products in the wearables, home and accessories categories did not fare well this quarter. iPad sales in particular fell 25 percent compared to the same period last year, although Cook attributed this to a “difficult comparison” to the big numbers recorded in the first quarter of 2023 due to new models with refreshed Apple Silicon. Considering that the company did not release a new iPad model in 2023 at all, this is not surprising.

Cook continued by highlighting updates on Apple’s opening of its 100th retail location in Asia Pacific and its sustainability efforts. “Apple is a company that never shies away from big challenges,” he said, adding, “We’re optimistic about the future, confident in the long-term, and as excited as ever to deliver to our users.” .”

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