Apple announced a significant 5% year-over-year growth, boasting a quarterly revenue of $85.8 billion on Thursday. The surprise package of this quarter was the iPad, which achieved its best non-holiday quarter since 2020, logging a remarkable gross sales total of over $7 billion.
Apple’s Services segment stood out as a consistent performer, consistently delivering strong quarterly results. Firms reported a substantial $24.2 billion in earnings, a mere 1% increase from the previous quarter and a notable 11% jump from the same period last year. Mac gross sales rose modestly to surpass $7 billion in revenue during the same quarter of 2023. The iPhone’s primary sales were flat, yielding a gross revenue of $39.3 billion, narrowly missing last year’s total of $39.7 billion. The categories of And Wearables, Dwelling, and Equipment, featuring both Imaginative and prescriptive Professional and the Apple Watch, suffered a minor decline, falling from $8.3 billion to $8.1 billion. The quarter’s performance unfolded as follows:
- iPhone: $39.3B (down 1 %)
- iPad: $8.1B (Up 24 %)
- Mac: $7B (Up 2 %)
- Wearables: $8.1B (Down 2 %)
- Companies: $24.2B (Up 14 %)
Throughout the quarter, Apple introduced a brand-new iPad Pro and refreshed the iPad Air lineup, simultaneously reducing the price of its tenth-generation model. New fashion trends significantly impacted sales, as every region recorded growth except for China, where a 7% decline was observed.
Apple will maintain a presence at 5 p.m. Should we convene an ET session to deliberate on the consequences of this quarter? Should we prioritize capturing audience interest with compelling facts and statistics instead?
