Apple Inc. reported results of work in the second quarter of fiscal year 2023 (lasts from October 1 to September 30, first quarter ends December 31). The company’s revenues and net income decreased by 2.5% and 3.4%, respectively, for the second consecutive quarter.
Revenue as of April 1 was $94.8 billion, net profit was $24.2 billion.
At the same time, Apple’s results turned out to be better than analysts’ expectations, with the company’s shares rising 2% in price after the reports were released.
One of the drivers of Apple’s business in the last quarter was growth in services revenue (including the music streaming service Apple Music and the video service Apple TV +), 5.6%, to a record of 20.9 billion dollars.
Another positive moment in the report was the growth of iPhone sales – by 1.5%, to $51.3 billion, “despite difficult macroeconomic conditions.”
According to Apple CEO Tim Cook, the growth in iPhone sales has contributed to active promotion in new markets such as India. At the same time, sales in China have yet to recover and were 2.9% lower.
Mac sales also decreased 31% to $7.2 billion, iPad sales fell 13% to $6.7 billion.
In the first quarter of fiscal 2023, the corporation’s revenues also decreased, by 5.5%, to $117.2 billion.
Author:
anastasia mariana
Source: RB
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