Apple’s revenues continue to slide despite a smaller-than-expected sales decline and a strong iPhone performance in its second quarter, Charged Retail Tech News has reported.
Apple said sales for its fiscal second quarter ended April 1 fell 2.5% to $94.8 billion, beating the expectations of a 4.4% drop to $93 billion. Profit was flat at $1.52 per share, compared with estimates of $1.43 per share.
Apple reported net income of $24.16 billion during January, February and March, down from $25 billion a year ago. Operating income was also down at $28,32 billion compared to $29,98 billion in the same period last year.
IPhone sales were up 1.5% to $51.3 billion, offsetting the predicted 3.3% drop thanks to emerging markets, particularly in Brazil, India and Mexico.
“We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,” said Tim Cook, Apple’s CEO.
“We continue to invest for the long term and lead with our values, including making major progress toward building carbon neutral products and supply chains by 2030.”
