Apple offered sufficient iPhones and companies final quarter to reverse a downward income development

After four consecutive quarters of revenue decline, Apple broke the development and reported its first interval of income progress as we speak. In its earnings report for the first quarter of the financial year of 2024, the corporate introduced a quarterly income of $119.6 billion, which is a rise of two p.c from the identical interval final yr.

As well as, Apple CEO Tim Cook dinner mentioned its “put in base of energetic units has now surpassed 2.2 billion, reaching an all-time excessive throughout all merchandise and geographic segments.” This quarter contains cash introduced in from the gross sales of the iPhone 15 line launched in September 2023, which had an apparent affect on efficiency.

“As we speak Apple is reporting income progress for the December quarter fueled by iPhone gross sales, and an all-time income file in Companies,” Cook dinner mentioned. He famous the corporate hitting “all-time income information throughout promoting, Cloud companies, fee companies and video in addition to December quarter information in App Retailer and Apple Care.” Cook dinner recapped some updates made to the Apple TV app, in addition to TV+ content material incomes nominations and awards.

Cook dinner went on to remind us throughout the firm’s earnings name that tomorrow is the launch day for the Imaginative and prescient Professional headset, calling it historic. After saying that Apple is devoted to investing in new applied sciences, Cook dinner added that the corporate might be sharing extra about its developments in AI later this yr.

Merchandise within the wearables, residence and equipment classes did not fare properly on this quarter, although gross sales within the Mac division did improve yr over yr. iPad gross sales specifically dropped 25 p.c over the identical interval final yr, although Cook dinner attributed that to a “tough evaluate” to the massive numbers recorded within the first quarter of 2023 resulting from new fashions with refreshed Apple Silicon. Contemplating the corporate didn’t launch a brand new iPad mannequin in 2023 in any respect, this isn’t shocking.

Cook dinner continued by highlighting developments like Apple opening its a centesimal retail location in Asia Pacific and updates on its sustainability efforts. He wrapped up by saying “Apple is an organization that has by no means shied away from massive challenges,” including “so we’re optimistic concerning the future, assured in the long run and as excited as we have ever been to ship for our customers.”

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