Apple’s profits believe that services in the services are increasing, but iPhone sales are short

Apple (AAPPL) has published budgetary budgetary profits that have exceeded estimates as the income from its services increased, although iPhone sales have failed.

The turnover of the iPhone manufacturer has increased by 4% in annual sliding to a record of $ 124.3 billion, roughly online with the consensus of the Visible Alpha analyst. The profit reached $ 36.33 billion, a summit of $ 2.40 per share, against $ 33.92, or $ 2.28 per share, a year earlier and more.

In segment, Apple’s revenues increased by 14% to $ 26.34 billion. Mac and iPad sales have also increased two -digit percentages, up more than 15% to 8.99 billion dollars and $ 8.09 billion, respectively. However, the largest source of income in the company, iPhone sales, has dropped just under 1% to 69.14 billion dollars, missing. It was the first full quarter since the release of the iPhone 16 in September.

The results are involved in the concerns about the drop in sales in China, as the manufacturers of Chinese smartphones like Vivo and Huawei have expanded their market share. The region of Greater China was the only region in which Apple saw its sales drop in the first quarter compared to the previous year.

Apple CEO, Tim Cook, said on the call for the company’s profits that iPhone 16 sales were stronger on the markets where Apple Intelligence is available. In some markets like China, Apple Intelligence is not yet available due to regulatory obstacles.

Since its inception, the iPhone 16 range has surpassed the post-launch performance of the iPhone 15 a year earlier, said Cook. Apple has seen a record number of apparatus upgrades during the quarter, added Cook, the number of Apple Active devices reaching a top of 2.35 billion people.

For the future, Apple said that it provided that financial income in the second quarter increases a percentage in the figures at a low level, roughly in accordance with raw expectations and margins to land between 46.5 % and 47.5%, above the analyst’s consensus.

Apple’s shares climbed approximately 3% in extended trading Thursday after calling the company’s profits. The action has won more than 27% in the last 12 months at the end of Thursday.

Update – Jan. 30, 2025: This article has been updated since its first publication to include additional information and reflect more recent equity prices.