Apple Q2 earnings are down, as every thing however iPhones is tougher to promote

Tim Cook posing for selfie at an Apple Store opening in New Delhi, India.

Enlarge / Tim Cook dinner posing for selfie at an Apple Retailer opening in New Delhi, India. Cook dinner is optimistic about “switcher and first-time purchaser metrics” in that nation. (credit score: Bloomberg/Getty)

Apple reported its earnings for Q2 2023 at present, beating each Wall Road’s and its personal dour income estimates only a bit however persevering with to point out marked declines in new {hardware} gross sales.

General gross sales income was $94.eight billion for Apple’s monetary quarter ending April 1 (PDF), down three p.c 12 months over 12 months, in need of the 5 p.c Apple’s information had urged in January. CEO Tim Cook dinner emphasised Apple’s “all-time document in Companies” and a document iPhone month in March, regardless of a “difficult macroeconomic surroundings, in a press launch. Companies, which incorporates the App Retailer, AppleCare, iCloud, and Apple’s subscription merchandise, elevated to $20.9 billion in Q2, up about 5.5 p.c.

iPhone gross sales elevated 1.5 p.c to $51.03 billion. Cook dinner informed CNBC’s Steve Kovach that “It was fairly an excellent quarter from an iPhone viewpoint, notably relative to the market once you take a look at the market stats.”

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