Apple’s Q2 Earnings Report Is Showing iPhone Sales Drop

Apple’s  Q2 Earnings Report Is Showing iPhone Sales Drop 1

Cupertino, California — April 30, 2019 — Apple today announced financial results for its fiscal 2019 second quarter ended March 30, 2019. The Company posted quarterly revenue of $58 billion, a decrease of 5% from the year-ago quarter, and quarterly earnings per diluted share of $2.46, down 10 percent. International sales accounted for 61 percent of this quarter’s earnings.

Everyone has a thought: Maybe it is that iPhones are excessively pricey. Maybe it’s that Apple’s quality control appears weaker, Or that they’ve alienated customers by removing consumer-friendly properties such as the headset jack. Perhaps it’s that iPhones keep getting more and more costly at a time when customers have realized the premium price isn’t worth it within an age of excellent mid-range phones, Or just that customers are upgrading less often. Maybe it’s all of them or something else completely.

“We delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software, and services. We’re looking forward to sharing more with developers and customers at Apple’s 30th annual Worldwide Developers Conference in June,” said Tim Cook, Apple’s CEO.

“We generated operating cash flow of $11.2 billion in the March quarter and continued to make significant investments in all areas of our business,” said Luca Maestri, Apple’s CFO. “We also returned over $27 billion to shareholders through share repurchases and dividends. Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $75 billion for share repurchases. We are also raising our quarterly dividend for the seventh time in less than seven years.”

However, Apple’s other units did quite well: iPad earnings increased from $4 billion in Q2 2018 to $4.8 billion in Q2 2019, although its wearables, residence, and accessories branch went from $3.9 billion to $5.1 billion. According to Verge, the company brought in”an all-time high” of roughly $11.5 billion out of its services department. In general, Apple came out to the high end of its $55-59 billion projection for the quarter, an important update from its disappointing Q1 2019 outcomes.

Apple’s 2019 Worldwide Developers Conference can be slated for June when it will have the opportunity to attempt to get consumers re-invest in iPhones, potential to reinvigorate its Mac lineup, and further promote its wearables and accessories businesses.

Based on CNBC, investors looked mostly pleased with this particular report, with inventory spiking over four percentage and the firm re-approaching its own $ 1 trillion markets worth in extended trading.

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