Apple had another excellent quarter, even if its sales dipped somewhat.
The company on Thursday reported its second quarter 2024 earnings, posting revenue of $90.8 billion for the quarter, a 4 percent decline year over year, along with $23.6 billion in profit.
iPhone sales weighed in at $46 billion in revenue for the quarter, a 10 percent decrease from the second quarter of 2023. Wearables, Home, and Accessories revenue were also down 10 percent. iPad sales were also down 17 percent.
Apple’s Services set a record for the quarter and saw a jump in revenue YoY of 14 percent, while Mac sales increased about 4 percent.
The quarterly results:
iPhone: $46 billion (down from $51.3 billion)
iPad: $5.6 billion (down from $6.7 billion)
Mac: $7.5 billion (up from $7.2 billion)
Wearables: $7.9 billion (down from $8.7 billion)
Services: $23.9 billion (up from $20.9 billion)
Apple faced revenue challenges in Greater China, Japan, and Asia Pacific, where revenue was down from those regions a total of 11 percent YoY.
Finally, the company did not issue guidance for the third quarter of 2024, which ends in June. Representatives did state that Apple expects double-digit growth in iPad and Services revenue, and low single-digit growth in total.
Stay tuned for additional details as they become available.