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Apple iPhone revenue, once unflappable, is officially in retreat with 15% shortfall

Apple iPhone revenue, once unflappable, is officially in retreat with 15% shortfall

He said Apple is rethinking how it prices the iPhone outside the United States after largely setting the price in US dollars, which made the phones more expensive in local currencies.

The most recent holiday quarter, though, is a little bit different. Quarterly revenue in Greater China was $13.1 billion, down from almost $18 billion one year ago.

With that said, Apple's earnings report for its first fiscal quarter is out and, when the dust settled, the company posted revenue of $84.3 billion and an EPS of $4.18. Analysts surveyed by FactSet had been anticipating revenue of about $59 billion.

Apple Inc on Tuesday reported sharp growth in its services business and Chief Executive Tim Cook said trade tensions between the United States and China were easing, helping its shares up even after sales of its iPhone dipped in the holiday shopping quarter.

So how did iPhone sales check in for the quarter gone boy?

Apple's iOS install base now stands at 1.4 billion devices, which has helped send services revenue to record highs, at $10.9 billion for the quarter, up 19% year over year.

Houston police officers shot in southeast Houston
My thoughts and prayers are with the wounded officers and the members of the Houston Police Department on this awful day. Houston Police Chief Acevedo has now left the scene and is headed to the hospital to check on his officers.

The company said last November that it would stop disclosing unit sales data for iPhones and other hardware, arguing that unit sales were no longer the best available of its success given the rise of its services arm and other new initiatives. What's more, seeing as how iPhone releases have been staggered over the past two years, year-over-year quarterly comparisons are far less instructive than in years past. So if you're keen on seeing how Mac and iPad sales are doing, well, you're out of luck.

Apple's iPhone revenue declined 15 percent year over year to $51.9 billion (£39.5 billion).

Apple's Mac and Wearables (meaning Apple Watch and AirPods) businesses are also on the upswing, growing 9% and 33%, respectively.

Apple's share price has dropped by around one third since October, amid investor concerns that buyer appetite for iPhones is weakening.

However, the firm's shares gained nearly 4% in after-hours trade on Tuesday, as the firm proved more resilient than feared.


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