Smartphone titan Apple exceeded expectations in the first quarter
Despite inflation and a sluggish global economy, Apple’s first-quarter revenue of almost $95 billion was well ahead of expectations. The bottom line was a profit of 24 billion dollars, as the company from Coupertino, California announced on Thursday. In the same period last year, sales were 97.2 billion and net profit was 25 billion.
Despite inflation and a sluggish global economy, Apple’s first-quarter revenue of almost $95 billion was well ahead of expectations. The bottom line was a profit of 24 billion dollars, as the company from Coupertino, California announced on Thursday. In the same period last year, sales were 97.2 billion and net profit was 25 billion.
“We are pleased with an all-time record for services and an iPhone record in the first quarter, despite the difficult economic environment,” said Apple.CEO Tim Cook. iPhone sales brought in a total of $51.33 billion between January and March, up two percent from the same period last year and more than expected as demand for electronic devices shrank due to inflation.
According to experts, this is at least partly due to China’s reopening after a long period of corona restrictions. Although Apple made headlines in April with the opening of its first Apple Store in India, China remains the iPhone maker’s most important supplier and sales market. Apple has been hit hard by China’s drastic zero-Covid policy with factory closures. Only now are the complex supply chains of the US group slowly returning to normal.
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