Apple’s Sales Surpass Expectations
Apple Revenue Decreases, but Service Revenues Reach Record High
Apple just released its balance sheet for the January-March period, noting that the company’s revenue decreased by 3 percent compared to the same period last year, totaling $94.8 billion. The company’s net profit also decreased by 3.4 percent to $24.2 billion, and earnings per share remained at $1.52.
Despite the decline, the company exceeded market expectations, which anticipated the revenue to be $92.9 billion. Apple’s CEO, Tim Cook, stated that the company’s financial results in service revenues broke records, even with the challenging macroeconomic conditions.
In terms of product sales, iPhone sales increased by 1.5 percent, bringing in $51.3 billion in revenue. However, iPad sales fell by 12.8 percent to reach $6.7 billion, and Mac sales fell by 31.3 percent, amounting to $7.2 billion.
Cook expressed that Apple continues to make long-term investments, particularly in creating carbon-neutral products and supply chains by 2030. He also stated that they are pleased to have reached a new all-time high of active devices.
As the world continues to face the ongoing pandemic, it remains uncertain how the global economy will be affected. However, Apple remains optimistic as it continues to provide its customers with quality products and services.
