Apple iPhone gross sales decline 10% in first three months of 2024

Apple posted its monetary outcomes for its second fiscal quarter, which is the interval between January 1 and March 30, 2024. Gross sales of iPhones dropped 10% on a yearly foundation, whereas Providers reached its highest outcome ever, with a 14% improve over the identical interval final yr.

Cupertino’s whole income was $90.75 billion, 4% down from final yr. Web revenue was $23.63 billion, additionally down in contrast YoY.

Apple Retailer in Hong Kong

In line with the report, the gross sales decline got here from all throughout Asia. Web gross sales have been down in Higher China (PRC, Taiwan & Hong Kong), Japan, and the Remainder of Asia Pacific, whereas the Americas and Europe noticed an insignificant change that may be rounded as much as 0%.

Apple Providers consists of subscription providers, warranties, licensing offers with search engines like google and funds. The $23.9 billion outcome was larger than analysts anticipated, and the US firm mentioned it expects one other double-digit improve within the subsequent quarter.

Apple’s board permitted a further spherical of repurchases of as much as $110 billion of frequent inventory – the most important buyback program within the firm’s historical past. The corporate additionally introduced a money dividend of 25 US cents per share, a 4% improve from the earlier interval.

Supply (pdf)