Apple's stock is up almost 6% in premarket trading after the tech giant reported earnings on Tuesday that left some scratching their heads.
Here's the bad news: Apple's iPhone business is in decline, with no apparent end in sight.
The company said Tuesday that its smartphone revenue for the all-important holiday quarter fell 15% from the same period a year ago, a steep drop for a product line whose sales growth has defied gravity for years.
The shrinking iPhone sales also led to Apple's first holiday quarter revenue decline since 2000.
Overall, Apple (AAPL) posted better-than-expected revenue, but it still reported a 5% decline from the same quarter a year ago.
Worse still: CFO Luca Maestri told analysts that the company expects some factors to continue "affecting iPhone performance" in the upcoming quarter.
And for the first time in years, the tech giant didn't disclose the number of iPhones sold as part of its earnings report.
But there were some bright spots: Apple services had a very nice quarter.
And revenue from the App Store, Apple Music, Apple Care and other subscriptions rose 19% to a record $10.9 billion.
Apple delivered solid growth from its wearables, home and accessories business, too. Sales grew 33% from that business unit, which includes the Apple Watch, AirPods and HomePod.
from CNN.com - RSS Channel https://cnn.it/2Uq3xZ5
No comments:
Post a Comment