Apple Revenues Slip 4% to $90.75 Billion on Weaker Device Sales
Net income also fell 2% to $23.64 billion despite the device maker scoring record revenues in its Services segment
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Weaker device sales of iPhone and other products drove down Apple’s revenues and income in is fiscal second quarter of 2024, despite the company recording all-time high revenues of $23.87 billion in its Services division.
Net income: Fell 2% to $23.64 billion, or $1.53 per share. Analysts surveyed by Zacks Investment Research were expecting $1.51 per share.
Revenues: Fell 4% to $90.75 billion from $94.84 billion. That exceeded sales of $89.99 billion expected by analysts surveyed by Zacks Investment Research.
Services Revenue: $23.87 billion, up 14% from the previous-year quarter.
Apple’s shares were up almost 7% in after-market trading.
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