Apple continues to collect the cream. The company increased profit and margin with almost no increase in revenue

by alex

And sales of wearable and home electronics sank

Apple reported for the first quarter of the 2024 fiscal year, which ended on December 30 for it. 

Apple продолжает собирать сливки. Компания нарастила прибыль и маржу при почти не увеличившейся выручке

The company's sales for three months amounted to $119.6 billion, which is 2% more than last year. Apple notes that growth was driven by strong sales of new iPhones. At the same time, the gross margin increased quite significantly: from 50.3 to 54.9. 

Operating profit amounted to $40.4 billion compared to $36 billion a year earlier, and net profit increased from $30 billion to $33.9 billion. That is, with almost unchanged revenue, Apple has significantly increased its margin and profit. 

It is especially worth noting sales in different regions. They grew in every major region except China. There was a drop from 23.9 to 20.8 billion dollars. 

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As for device sales, iPhone brought the company 69.7 billion versus 65.8 billion a year ago. 

Mac sales were little changed at $7.78 billion. iPad sales dropped significantly: from $9.4 to $7 billion. Interestingly, sales of wearable and home devices, as well as accessories, also dropped: from $13.5 to $11.95 billion. Perhaps this is the first time in many years.  

But services are growing steadily: $23.1 billion versus 20.8 billion a year ago.  

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