Apple booked a 2 per cent increase in revenue to $119.6 billion in its fiscal Q1 2024 (the period to 30 December 2023) driven in part by iPhone 15 results, but sales in China dropped 12.9 per cent to $20.8 billion.
iPhone revenue grew 6 per cent year-on-year to $69.7 billion and its services business segment posted an 11 per cent increase to $23.1 billion. The unit includes its App Store and streaming platforms.
On its earnings call, CEO Tim Cook said Apple “achieved revenue records across more than two dozen countries and regions, including all-time records in Europe and the rest of Asia Pacific”.
Cook and CFO Luca Maestri said the company’s fiscal Q1 2024 was a week shorter than the comparable period of fiscal 2023.
Revenue in its Wearables, Home and Accessories division, which includes AirPods, Apple Watch and streaming set-top boxes, dropped 11 per cent to $12 billion.
Cook stated the segment was impacted by a “difficult compare with the launch timing of several products in this category” in the comparable period of fiscal 2023, again citing the shorter period.
Net income of $33.9 billion was up 13.1 per cent, on revenue of $119.6 billion, 2.1 per cent higher.
“I’m pleased to announce that we have set a new record for our install base, which has now surpassed 2.2 billion active devices,” Cook stated.
The post China blots Apple landscape appeared first on Mobile World Live.
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