A robust services business and the sales success of new laptop models helped Apple’s quarterly revenue exceed market expectations. After recent declines, revenues are now expected to rise again, company boss Tim Cook said. He expects a percentage increase in the low single digits for the current quarter. Analysts had previously predicted growth of 1.3 percent.
At the beginning of the year, group turnover fell by four percent to 90.8 billion dollars (84.72 billion euros). However, experts had expected a decline to $90.01 billion.
iPhone sales fell by ten percent
The problem child was once again the iPhone, which contributed half of the company’s revenue. It must prove itself against increased competition from Samsung and Huawei. Apple’s smartphone sales revenue fell by more than ten percent to $45.96 billion, the highest level since more than three years ago. However, the company highlighted that the previous year’s value was distorted by catch-up purchases after pandemic-related restrictions were lifted.
In the same quarter last year, pent-up demand for the iPhone 14 Pro had boosted sales. Many interested parties were unable to purchase it during the 2022 Christmas period because the corona lockdowns in China delayed production. All models of the current iPhone 15 were now available in the last holiday quarter, making things a little quieter at the beginning of 2024 as usual. iPhone sales were just below average analyst expectations. In China, the focus market for many experts, the decline was eight percent less than expected to $16.4 billion.
Revenue from the services sector, which also includes the Apple TV+ streaming service, grew surprisingly significantly to $23.87 billion. The feared decline in Mac computer sales did not materialize. Instead, sales rose to $7.5 billion. “The driving force was the new MacBook Air with the M3 chip,” says company boss Cook. “About half of our MacBook Air buyers this quarter were new to Macs.”
Source: Krone

I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.