La China andiPhone slow Apple and Apple's revenues and profits drop both. But despite the decline it confirms the difficulties of the current moment for CupertinoHowever, these are better results than expected. Data which, in fact, ends up giving wings to Apple stocks Wall Street, where the stock recorded - in the after-hours - an increase of over 7 percent. A leap that also comes following an announcement, that is the largest stock buyback of Apple's history: the company's board of directors authorized a $110 billion stock buyback, equal to an increase of 22% compared to last year's $90 billion buyback, which itself was the largest in Apple's financial life.
Apple, numbers down but above expectations. iPhones down
In the first quarter, Apple reported a net profit of 23,64 billion (-2%), or 1,53 dollars per share, on revenues of 90,75 billion, against expectations for 1,50 dollars on 90,01 billion. Revenueanyway down by 4%, with iPhone sales down 10% compared to the same quarter of 2023 at 45,96 billion, just below the consensus 46 billion.
The revenues generated by Mac they were 7,5 billion, against the consensus 6,86 billion. Revenues from theiPad, equal to 5,6 billion, against the 5,91 billion of the consensus, and of the other products (7,9 billion, against the 8,08 billion of the consensus). Finally, revenues from services amounted to 23,9 billion, against the consensus of 23,27 billion. Gross margin at 46,6%, as per estimates.
Apple, what Tim Cook says and China's moves
“We look forward to next week's big announcements and the incredible Worldwide Developers Conference next month. As always we are focused on offering the best products and services for our customers, respecting the values that guide us,” said the CEO Tim Cook. Revenues from services - includingApp Store,Apple TV e Apple Pay – rose by 14% to a record 23,8 billion. In addition to the drop in iPhone sales, sales of Apple's wearable devices also fell 9,6% to 7,91 billion. In China, iPad and Mac sales fell 8,1% to 16,37 billion due to growing competition from Huawei. Beijing is encouraging Huawei's revenge trend and last year imposed a ban on the use of iPhones for public officials in the workplace.
