Apple has announced its latest financial results, this time for its fiscal second quarter of 2024 that ended on March 30. Revenues were $90.753 billion for the quarter, but they were down 4 percent from revenues of $94.836 billion from the same period a year ago. Net income came in at $23.636 billion for the quarter, which was also down from $24.160 billion from a year ago.
Apple CEO Tim Cook got interviewed by CNBC on the financial results. Cook said it was hard to compared this past quarter results from the same period in 2023. That was because a year ago, Apple recorded $5 billion in delayed sales for its then-current iPhone 14 due to supply issues created by the COVID-19 pandemic. Cook added.
If you remove that $5 billion from last year’s results, we would have grown this quarter on a year-over-year basis . . . And so that’s how we look at it internally from how the company is performing.
iPhone revenues from the last quarter were $45.96 billion but that"s down 10 percent from the same period a year ago. iPad revenues came in at $5.6 billion, which were down 17 percent from a year ago.
Apple is planning to hold a virtual press event on May 7 where it is expected that the company will reveal new iPad Pro and iPad Air tablets. The iPad Pro models are rumored to have OLED displays and may also be the first products with Apple"s next gen M4 processor. Cook told CNBC that the Apple press event next week will also feature some news from an "AI point of view".
Revenue from Mac PCs came in at $7.45 billion for the quarter, up 4 percent from a year ago. The Other Products category, which includes revenues from the Apple Watch, came in at $7.9 billion, down 10 percent from a year ago. Services, which includes subscriptions to Apple Music and Apple TV+, had revenues of $23.9 billion for the quarter, which was up 14.2% from a year ago.