CHART: Apple Posted a Poor Performance in Q2 FY24 Amid iPhone Sales Slump
This decline can be attributed primarily to a near 10% drop in iPhone sales, reaching $45.96 billion from $51.33 billion in Q2 FY23.
Apple's recently released second-quarter results ended March 30, revealed a mixed bag of performances.
The tech giant reported quarterly revenue of $90.8 billion in Q2 FY24, a 4.3% decrease compared to the same period last year. This decline can be attributed primarily to a near 10% drop in iPhone sales, reaching $45.96 billion from $51.33 billion in Q2 FY23.
This suggests weaker-than-expected demand for the current generation of iPhones launched in September 2023. However, CEO Tim Cook clarified that without the surge in iPhone 14 sales last year due to pandemic-related delays, iPhone revenue for this quarter would have remained flat.
