After 4 consecutive quarters of income decline, Apple broke the pattern and reported its first interval of income development at the moment. In its earnings report for the primary quarter of the monetary yr of 2024, the corporate introduced a quarterly income of $119.6 billion, which is a rise of two % from the identical interval final yr.
As well as, Apple CEO Tim Prepare dinner stated its “installed base of active devices has now surpassed 2.2 billion, reaching an all-time high across all products and geographic segments.” This quarter consists of cash introduced in from the gross sales of the iPhone 15 line launched in September 2023, which had an apparent impression on efficiency.
“Today Apple is reporting revenue growth for the December quarter fueled by iPhone sales, and an all-time revenue record in Services,” Cook said. He noted the company hitting “all-time income data throughout promoting, Cloud providers, cost providers and video in addition to December quarter data in App Retailer and Apple Care.” Cook recapped some updates made to the Apple TV app, as well as TV+ content earning nominations and awards.
Cook went on to remind us during the company’s earnings call that tomorrow is the launch day for the Vision Pro headset, calling it historic. After saying that Apple is dedicated to investing in new technologies, Cook added that the company will be sharing more about its developments in AI later this year.
Products in the wearables, home and accessories categories didn’t fare well in this quarter, though sales in the Mac department did increase year over year. iPad sales in particular dropped 25 percent over the same period last year, though Cook attributed that to a “tough evaluate” to the big numbers recorded in the first quarter of 2023 due to new models with refreshed Apple Silicon. Considering the company did not release a new iPad model in 2023 at all, this is not surprising.
Cook continued by highlighting developments like Apple opening its 100th retail location in Asia Pacific and updates on its sustainability efforts. He wrapped up by saying “Apple is an organization that has by no means shied away from huge challenges,” adding “so we’re optimistic in regards to the future, assured in the long run and as excited as we have ever been to ship for our customers.”
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