Apple Announces a Decline of Its iPhone Sales and Revenue in Second Quarter
Today, April 26, Apple has announced its financial results for the second quarter of its fiscal 2016 year, which ended exactly one month ago, on March 26, with the company experiencing a decline due to poor iPhone sales.
A few minutes ago, the Cupertino company sent a press release to the media, to inform us that it posted a quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. The numbers appear to be much lower than those posted in the year-ago quarter.
For example, the company posted last year a quarterly revenue of $58 billion and a quarterly net income of $13.6 billion, or $2.33 per diluted share. It thus looks like the iPhone sales have indeed declined in the last few months, most probably because of the iPhone SE device, which has not attracted many buyers globally.
“Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO. “We are very happy with the cont… (read more)
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