iPhone sales fell, Apple announced its largest stock buyback

Sales in January-March 90.75 billion in the fourth quarter. USD and were 4% lower than in the same period last year, but exceeded the forecasts of analysts polled by LSEG, on average, forecasting 90.01 billion. USD earnings, rao CNBC.

Earnings per share amounted to $1.53 (forecast $1.5), and total profit in the fourth quarter was 23.64 billion. USD, 2% less than in 2023. first quarter

Apple CEO Tim Cook told CNBC that sales fell in the fourth quarter due to a higher comparable base, as the same quarter last year accounted for delayed sales of the iPhone 14 due to pandemic-related supply chain disruptions.

iPhone sales fell 10% overall to 45.96 billion. USD. The sales numbers corresponded to analysts’ forecasts.

Mac revenue grew by 4% year-on-year to 7.45 billion. USD, but the sales of this segment still did not increase in 2022. altitude reached.

Another product segment, which includes the Apple Watch and AirPods, fell 10% year-over-year to $7.9 billion. USD.

The last quarter was important for Apple in that the company released a completely new product category Vision Pro virtual reality glasses after a long break, however, it is believed that the $3,500 event will not surprise large sales volumes, at least for now.

iPad tablet sales decreased by 17% to 5.6 billion. USD. The main reason for this is that Apple last released a new iPad in 2022, and the launch of a new planetary computer, which should boost iPad sales, is expected as early as May 7.

At that time, Apple’s services business, where revenue comes from subscriptions, warranties, licensing deals with Internet access engines and payment, continued to show strong results, its revenue grew by 14.2% to 23.9 billion. USD.

Together with the financial results, Apple announced that it will allocate 110 billion for the purchase of its own shares. USD, 22% more than last year ($90 billion). According to Birinyi Associates, a research firm, this will be the largest share buyback program in Apple’s history.

Apple shares rose 6% in the after-hours session after the results were announced.

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