Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

iPhone sales buck falling electronics demand trend

iPhone sales buck falling electronics demand trend

The tech giant reported drops in some product sales but surprised economic observers when it came to profits and revenues.
Apple has beat Wall Street expectations and market trends in reporting increased iPhone sales in its second quarter results.

Both revenues and profits were above investor predictions as a record number of iPhones were sold for the second three month period in its financial year.

Sales for the year ending 1 April dropped overall - but significantly less than expected - by 2.5% to $94.84bn (£75.42bn), better than the expected 4.4% drop to $93bn (£73.96bn).

A drop in sales of the iconic Apple product had been expected as cost of living pressures and higher interest rates pinch customer wallets and demand has been depressed following the pandemic era electronics purchase surge.

Instead, a 1.5% rise in Apple's iPhone revenue was recorded despite a more than 3% decline being expected. The increase came, chief executive Tim Cook said, thanks to three countries.

"We set records for the iPhone installed base in every geographic segment, and we had very strong 'new to' [sales in] emerging markets, particularly in Brazil, India and Mexico."

"We were thrilled by our performance in emerging markets," Cook told Reuters. Mr Cook was recently in India to open Apple's first retail stores in the country.

There are well over a billion iPhones in active use, the Apple investors conference call heard.

Some Apple products, however, succumbed to the downward trend for electronics sales. Sales of Apple's mac laptops dropped 30% and iPad revenue was down.

Wearable sales, such as the Apple watch and AirPods dropped by a single percent.

Sales in China also fell nearly 3% to $17.8bn (£14.15bn).

Apple earned $24.16bn (£19.21bn) during January, February and March, equivalent to $1.52 (£1.20) a share. It's down slightly from $25bn (£19.88bn) a year ago.

Supply chain woes that had previously dogged production disappeared. Cook said there were no material shortages at all over the three months.

Apple was just the latest tech giant to report better than expected results. Tech stocks have been behind increases to the S&P 500 index of the largest companies listed on US stock exchanges.

Company shares rose 2% in after hours trading following the announcement.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Pope Francis Makes Brief Appearance at Easter Sunday Mass
Saudi Arabia Offers Max Verstappen Unprecedented Deal to Join Aston Martin
Global Pistachio Shortage Amid Rising Demand for 'Dubai Chocolate'
Trump is assembling a coalition of Western leaders aligned with the MAGA vision, strengthening a unified front for global change
IMF Predicts No Global Recession Amid Trade Tensions
Alphabet Faces Antitrust Setbacks as Federal Judges Rule Against Google
US Billionaires Call for Higher Taxes, but Proposed 'Millionaires Tax' May Not Achieve Desired Outcome
This is Vienna, Austria in 2025.
Designed in US, made in China: Why Apple is stuck in tariff tussle
Boeing Jet Returns to US from China Amid Tariff War
US Sets Deadline for Russia-Ukraine Peace Deal Brokerage
Italy Introduces 'Sex Rooms' in Prisons for Inmates
Italian Prime Minister Giorgia Meloni Meets with Donald Trump to Discuss EU-US Trade Tensions
South East Asia Caught in US-China Trade Dispute
Ukraine and US Sign Outline of Minerals Deal
U.S. and Panama Finalize Defense Agreements Amid Canal Access and Chinese Influence Concerns
China Stands Firm Amidst Trade Disputes with the US: A Factual Analysis
U.S. Tariff Escalation Sparks Global Trade Tensions
EU Postpones Retaliatory Measures Against US Tariffs
Alisha Lehmann's Modeling Campaign and Public Controversy Stir Debate Ahead of UEFA Women's Euro
Global Responses to U.S. Tariffs: Varied Reactions from Key Economies
Europe Pursues Digital Autonomy in Light of Transatlantic Strains
OpenAI Secures Unprecedented $40 Billion Funding
Apple's Innovation Divide: Falling Behind in AI and Foldable Technology Amidst Progress from China
Passenger Taken into Custody for Masturbating on SWISS Air Flight
PUTIN’S LIMOUSINE DETONATES—SECURITY CHAOS ENSUES
OpenAI Unveils New Image Generation Tool for ChatGPT
Ex-FIFA President and French Football Icon Acquitted of Corruption Accusations
American Brands Face Consumer Boycott in Europe Amid Escalating Trade and Political Tensions
German President Frank-Walter Steinmeier has just signed off on a national debt hike to fast-track Germany’s militarization
Pope Francis Makes His First Public Appearance in Five Weeks After Being Hospitalized
Pope Francis Released from Hospital Following Pneumonia Treatment
European Countries Boost Defense Budgets Due to Changes in U.S. Support
Pope Francis Set to Leave Hospital Following Recovery from Pneumonia
Thousands Rally in Amsterdam to Oppose Racism and Fascism
Revealing the Electromagnetic Characteristics of the Great Pyramid of Giza
The Development of China's Automobile Sector
Netanyahu Dismisses Shin Bet Chief Amid 'Loss of Trust' and 'Qatargate' Corruption Investigations Involving Netanyahu's Advisors
Leaders of the US and Ukraine Hold Constructive Discussion Amid Ongoing Conflict
EU Charges US Tech Giants with Violating Digital Regulations
Serbia's authoritarian government uses illegal sonic weapons against peaceful demonstrators.
European Union Moves Toward Joint Debt for Military Spending
Mass Protests in Belgrade Against Serbian President and Government
Trump Administration's Deportation of Alleged Gang Members Sparks Legal Dispute
Massive Protests Erupt in Serbia Against President Vučić Amid Corruption Allegations
Large Demonstrations Break Out in Serbia After Fatal Railway Station Collapse
Serbian Government Denies Use of 'Sonic Weapon' Amidst Massive Protests
Serbia Witnesses Unprecedented Protests Following Novi Sad Railway Station Collapse
China Introduces 'Zhulong' C-14 Nuclear Battery Promising a Lifespan of 5,730 Years
Inquiry: Social Media Platforms Permitted Advertisements Featuring Anti-Semitic and Anti-Muslim Material in Germany
×