Apple Q2 revenues decline as confirmed
Apple has confirmed a decline in its Q2 revenues, reflecting a slight downturn in financial performance during the period.
Apple, the tech giant, reported quarterly revenues of $81.8 billion for the months of April, May, and June, representing a slight 1.4% decline compared to the same period last year. The dip in revenues during the Q2 months is a common trend for Apple, as consumers tend to hold off on purchases while anticipating the release of the next generation of iPhones, traditionally scheduled for the Fall period. Despite the dip in revenues, Apple remains a dominant force in the industry, with high expectations for its upcoming product releases.
Apple Q2 revenues decline as confirmed
During the second quarter, Apple's net income reached $19.88 billion, and its earnings per diluted share increased to $1.26. The Services sector, including the App Store and subscription-based services, generated an impressive $21.2 billion in revenue, boasting over 1 billion paid subscriptions for the period.
However, iPhone, iPad, and Mac sales experienced a decline. Apple's CEO, Tim Cook, confirmed in a CNBC interview that sales of the iPhone 14 series were 2% lower compared to the iPhone 13 series from the previous year. Additionally, iPad sales saw a decrease of 20% year-on-year. The only category that saw sales growth was wearables, home, and accessories.
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