iPhones and iPads weigh on the result. In addition, Apple is weakening throughout Asia, including China and Japan.
Apple has one in its second fiscal quarter (ending March 30). Sales of $90.75 billion earned. Compared to the same period last year, revenue fell by four percent. Net profit was also lower than a year ago. $23.64 billion corresponds to a loss of two percent. However, both metrics outperform the expectations of analysts.
The price of Apple shares rose significantly in after-hours trading. With an increase of 6.03 percent or $10.43, the price of an Apple share climbed to $183.46 – approaching the current 52-week high of $199.62. This should also be the case
Apple’s announcement helped buy back shares worth up to $110 billion.
Apple suffered losses, especially in iPhone sales. Compared to the second fiscal quarter of 2023, they deteriorated by more than $5 billion to $45.96 billion. Sales in the iPad division also fell by 17 percent to $5.56 billion. The wearables, home and accessories sector lost around 10 percent of its sales and contributed $7.9 billion to the overall result.
The Mac division, however, achieved growth. Their sales increased by 4 percent to $7.45 billion. Another bright spot was the services division, which was also strong in previous quarters. It took in $23.87 billion, 14 percent more than a year ago.
While Apple’s sales in North and South America almost stagnated, the company achieved a slight increase in Europe. However, revenue declined in China (minus 8 percent), Japan (minus 13 percent) and the rest of the Asia-Pacific region (minus 17 percent).