Apple is disappointed, falling revenue and profits

Apple is disappointed, falling revenue and profits

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Apple’s earnings fell by 5% in the last quarter, revenue fell by 10%. Apple’s quarterly financial report ended in late March disappointing investors. The iPhone maker recorded a fall in earnings in the second quarter of the financial year of 2019.

Apple’s revenue for that period was $ 58 billion, down 5% less on an annual basis. Net profit fell 16% to $ 11.5 billion. The decline in sales of iPhone sales is the main reason for Apple’s poor performance. The company’s leading product generated $ 31 billion in the quarter, but it was 17% less than in the previous year.

Services provide Apple $ 11.45 billion in revenue and sell Mac computers to $ 5.51 billion. Approximately 61% of company revenue comes from abroad. Apple shares fell 5% after the release of financial results.

Team Coach Tim Cook points out, in turn, that the number of active devices has exceeded 1.4 billion, and service activity is the absolute record. Apple anticipates revenue ranging from $ 52.5 to $ 54.5 billion in the third quarter of the financial year.

The company will present its new events at a traditional annual conference in June.

Apple is disappointed, falling revenue and profits

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