By Gadjo Cardenas Sevilla
This is Apple’s biggest revenue and profit ever and likely the most revenue reported by any company, yet it is still dampened by falling short of expectations plus the first ever sales decline for iPhone in Q2, which will be the first downturn for Apple’s marquee product since its launch back in 2007.
Apple held its holiday quarter earnings call yesterday and reported $75.9 billion in revenue, $18.4 billion in profits which breaks previous records for the company despite the global ‘softening’ of the economy and devaled currencies. Apple’s success is bolstered by iPhone sales, the company sold 74.8 million units for the quarter. iPad sales continued to fall at 16.1 million units sold despite the addition of the iPad Pro, and Mac unit sales were at 5.3 million units in what is traditionally considered Apple’s strongest quarter.
For the same quarter a year ago, Apple reported the following for comparison. $74.6b in revenue, $18 billion in profit, 74.4m iPhones, 21.4m iPads, and 5.5m Macs. Analysts were predicting around $76.6b in revenue, 75m iPhones, 17.3m iPads, and 5.8m Macs this quarter.
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