Apple presented bittersweet results for the markets, full of fine print. The Tim Cook-led company beat revenue and profit expectations and its main stronghold, the iPhone, grew stronger than expected. In return, the firm disappointed all other devices and continued to record a decline in sales in Chinashowing weaknesses that the markets received with concern.
Concretely, the company recorded revenues of 94,930 million dollars, 6% more than the previous quarter, exceeding the 94,580 estimated by the average of analysts. Earnings, for their part, amounted to $1.64 per share, which equates to $14.73 billion, beating the estimate of $1.60. ANDThis figure includes the payment of 10.2 billion to Ireland by an EU decision. Without this fine, profits would have increased by 12% over one year.
The star of its sales, the iPhone, grew more than expected, by 6%, in a sign that the iPhone 16 is succeeding. Its revenues reached 46.220 million, against 45.470 million calculated by analysts. But the good news stops there. Mac, iPad, Services and the rest of the products fell below the market consensus in terms of revenue.. All this despite the fact that services were up 12% year-over-year and the iPad was up 8%, but the fine print: the previous year’s sales were disappointing since no new versions were released. release during the year 2023.
The other key area that markets were interested in was China. Sales of $15.8 billion were expected there, but in reality they remained at $15.03 billion. a further decline from one year to the next. The trade war between China and the United States continues to haunt the Apple firm, and the slight boycott by the Beijing government is slowing its growth in one of its main markets.
While presenting the results, Cook assured that he was looking forward to launching Apple Intelligence, the AI application for iPhone and Mac as part of the iOS 18.1 update. According to Cook, “It’s a rising star: users are adopting version 18.1 twice as fast as update 17.1.”
Analysts had put a magnifying glass on the Cupertino firm: its hopes of remaining the most valuable company in the world depended on the satisfaction of the markets. These results allayed fears that iPhone 16 sales would fall short of expectations, but they appear to have raised as many doubts as certainties.
