Apple has been on an incredible path of growth since they launched the iPod and now the company’s sales have declined for the first time in 13 years, mostly due to declining iPhone sales.
Apple reported its latest financial results yesterday, the results covered the company’s second fiscal quarter for 2016.
The decline in the company’s revenue was down to a decline in iPhone sales, this is the first time that iPhone sales have declined since the original iPhone was launched back in 2007.
Apple reported revenue of $50.6 billion for the quarter, this compares to $58 billion for the same quarter last year, they also reported net income of $13.6 billion or $2.33 per share.
Apple sold a total of 51.1 million iPhones in the quarter, they also sold a total of 10.2 million iPads and 4 million Macs.
Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO. “We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”
The company has issued guidance for their next financial quarter, they are expecting revenue of between $41 and $43 billion.
Apple are expected to launch their new iPhone 7 and iPhone 7 Plus at their press event in September, it will be interesting to see if these new handsets can increase iPhone sales again.
Source Apple
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