• 21/02/2024 15:54

Apple showed revenue growth for the first time in a year, despite weak sales in China

Apple reported revenue growth quarter-on-quarter, breaking a year-over-year decline in revenue. Apple's overall sales were higher than expected, even as sales fell in China amid fierce competition. Bloomberg writes about this with a link to the tech giant's report.

Apple showed revenue growth for the first time in a year, despite weak sales in China

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< p>In October-December 2023, Apple's revenue grew by 2%, to $119.6 billion compared to $117.2 billion a year earlier.

Apple's net profit for the fiscal quarter reached $33.9 billion, or $2.18 per share, compared with $30 billion, or $1.88 per share, earned in the prior-year comparable quarter.

Sales in China fell 13% to $20.8 billion. This figure is significantly less than analysts' forecast of $23.5 billion. It became the weakest December quarter for Apple in China since the first quarter of 2020.

Apple shares showed slight growth yesterday in trading, but in the premarket after that collapsed to $181.40.

Apple showed revenue growth for the first time in a year, despite weak sales in China

Apple price change/Source: Google< /p>

minfin.com.ua

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