Revenue dropped by 4.3%
Apple published a report on the results of the second quarter of the 2024 fiscal year, which ended on March 30 for it.
Revenue for the reporting period amounted to 90.753 billion dollars versus 94.836 billion a year earlier. That is, the company recorded a drop of 4.3%.
Operating profit decreased very slightly: from 28.32 to 27.9 billion dollars, and net profit — from 24.16 to 23.636 billion. That is, profit decreased significantly less than revenue, which indicates that the margin has increased.
iPhone sales declined, and much more than the main indicators. If a year ago the company sold smartphones worth $51.334 billion, then this — by 45.963 billion. Sales of iPad (from 6.67 to 5.56 billion dollars) and wearable/home electronics and accessories also fell (from 8.757 to 7.913 billion dollars). But Mac sales increased: from 7.168 to 7.451 billion dollars.
Well, traditionally, revenues from services increased significantly: from 20.91 to 23.87 billion dollars.
Despite the not-so-best report, Apple shares rose in price by 6% after its publication.