Business

Apple’s revenues decreased by 5% due to 17% drop in iPhone sales

Apple’s profit fell 16 percent in January-March to $ 11.56 billion. The revenue decreased by 5 percent compared to the March quarter of last year. In the January-March total, the total revenues of apple is $ 58 billion. Apple’s flagship product iPhone sales fell 17 percent to $ 31 billion. The company sold iPhone 37.56 billion dollars in the quarter ended March 2018.

Apple’s revenue has decreased from the sale of the iPhone, but the revenue from services segment grew 16 percent to $ 11.5 billion. It is the highest ever so far.

China’s revenues are continuing to decline, but the company says the situation is improved compared to the previous. In January-March, Apple’s sales in China stood at $ 10.22 billion. It was the main reason behind the decline in Apple’s revenue in October-December quarter in China. According to analysts, there has been an increase in sales in China due to the decrease in Iphone rates in a few months.

Although the revenues and profits of the company have come down, the result has been better than analysts’ estimates. Due to this, Apple’s shares rose 5% in Tuesday’s stock of our stock in the US stock market and the market cap reached $ 1 trillion. Apple’s valuation reached this level for the first time in August 2018. Later came down.

For the April-June quarter, the revenues of 52.5 to 54.5 billion dollars have been released. The company will buy back $ 75 billion shares. 77% per share for shareholders has also been announced.

Nikunj Sonagara
Nikunj is a professional writer having more than 5 years experience in this field. Nikunj is a technology geek and is always enthusiastic to know what is happening in the technology world.

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