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Its iPhone business grew 2.8 percent annually to $43.8 billion, Apple announced after the U.S. stock market closed on Thursday. This was within the expectations of investors. At the same time, Mac computer sales fell by a third to $7.6 billion. Apple is currently trying to increase this with new MacBook models with more powerful chips.
In its services business, which includes subscription revenue and App Store revenue, sales rose a good 16 percent to $22.3 billion.
Apple missed analysts’ expectations for its businesses in China, Hong Kong and Taiwan, where revenue fell 2.5 percent to about $15.1 billion. Its rival Huawei, which was hit hard by US sanctions in the past days, has achieved success here again with a new smartphone. The stock temporarily fell about one percent in after-hours U.S. trading.
As a result, Apple increased its profits to $22.96 billion, from $20.7 billion in the same quarter last year. Sales fell nearly one percent to $89.5 billion. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
