In the quarter spanning April, May, and June, Apple recorded quarterly revenues of $81.8 billion, reflecting a slight 1.4% decline compared to the same period last year.
It’s worth noting that the Q2 months typically experience a decline in sales figures as consumers anticipate the upcoming Fall release of the next generation of iPhones.
The net income reported was $19.88 billion, and earnings per diluted share showed an increase, reaching $1.26. Cupertino’s Services sector, encompassing the App Store and various subscription-based services, performed impressively, contributing $21.2 billion in revenue.
Notably, this sector boasted over 1 billion paid subscriptions during this period, indicating the strong growth and engagement of Apple’s services.
Clearly, the ‘Apple Tax’ is pulling its weight in the App Store sector of Apple’s finances.
There was a decline in sales for iPhone, iPad, and Mac. Tim Cook, in a CNBC interview, confirmed that the iPhone 14 series experienced a 2% decrease in sales compared to the iPhone 13 series from the previous year.
iPad sales saw a significant drop of 20% year-on-year. However, the wearables, home, and accessories category was the exception, as it saw an increase in sales during the same period.
But now that the next iPhone launch is right around the corner, we expect to see another major boost in revenue for Apple, which will more than make up for the small decline in Q2 figures.
Via: gsmarena
