Apple iPhone sales decline 10% in first three months of 2024
Apple posted its financial results for its second fiscal quarter, which is the period between January 1 and March 30, 2024. Sales of iPhones dropped 10% on a yearly basis, while Services reached its highest result ever, with a 14% increase over the same period last year.
Cupertino's total revenue was $90.75 billion, 4% down from last year. Net income was $23.63 billion, also down compared YoY.
Apple Store in Hong Kong
According to the report, the sales decline came from all across Asia. Net sales were down in Greater China (PRC, Taiwan & Hong Kong), Japan, and the Rest of Asia Pacific, while the Americas and Europe saw an insignificant change that can be rounded up to 0%.
Apple Services includes subscription services, warranties, licensing deals with search engines and payments. The $23.9 billion result was higher than analysts expected, and the US company said it expects another double-digit increase in the next quarter.
Apple's board approved an additional round of repurchases of up to $110 billion of common stock - the biggest buyback program in the company's history. The company also announced a cash dividend of 25 US cents per share, a 4% increase from the previous period.
Reader comments
- Reality...
- IWU
Yes. Not being able to re-arrange icons on the screen is not a big deal for me. Can anyway group them into folders and I find it convenient to cluster them into folders acc to app type anyway.
- Anonymous
- 70d
Can't you read? "Cupertino's total revenue was $90.75 billion, 4% down from last year. Net income was $23.63 billion, also down compared YoY." Also, it has everything to do with money.
First of all, the article name was a little misleading, leading readers like myself to believe that Apple was losing a significant portion of money, when in fact they couldn't be better off now. Then, that brings to mind - why all the lawsu...
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