Apple Q2 earnings down as expected

Oscar PerryMay 03, 2019

While iPhone revenue fell, to $31.05 billion, Apple's Services segment - which includes the App Store, Apple Music, iCloud, Apple Care and Apple Pay - generated quarterly record revenue of $11.5 billion, up 16 per cent. "Apple's services, user experience, and companion products make up for its slow adoption of the newest technologies". That said, its services division hit an all-time high of $11.5 billion in revenue.

After years of detailing iPhone sales growth, Cook described this quarter's iPhone sales revenue decline as being "significantly smaller than last quarter".

Mac sales revenue saw a slight decline year-over-year.

Everything that we do, does advise everything we do in the future so we try to learn the best we can and fold that into our thinking. "These, along with the continued success with wearables and so forth, give us some confidence that things are getting a bit better".

That beat analyst expectations of $57.4 billion in overall revenue and earnings per share of $2.37. Apple had 4.601 billion shares outstanding as of April 22, according to a filing late Wednesday. It is also expected that this year Apple might also increase the battery capacity of the iPhones.

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Apple CEO Tim Cook said the company has seen improving demand in the China market, thanks in part to price reductions. "The sum of all of this together, it helped us".

Apple's revenue has appeared to drop year after year.

Right around the same time, Apple also is expected to launch a new video streaming service in the mold of Netflix, which has already amassed 149 million subscribers worldwide. The company has set a goal of 500 million by 2020. Just look at the numbers from Apple's second-quarter results. That works out to a strong 30% year-over-year growth rate for the unit and easily topped the $4.79 billion that Wall Street was looking for.

Cook reiterated that India is a very important market in the long-term.

"Apple was never an iPhone company, it was always a software platforms company that monetized the platform with hardware", said Greengart. "Combine this with the fact that most competitors will shortly launch 5G phones and new foldable devices, the iPhone could face a hard remainder of the year", IDC added. Rather than focusing on how many new iPhones it has sold, Apple wants to now focus on how many iPhones are out in the world to show how vast its services business could be. On Tuesday, Apple announced its plans for another major chunk of the money: It will buy back a further $75 billion in stock.

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