Gadget giant Apple Inc. (NASDAQ: AAPL) on Thursday said its second-quarter 2023 sales declined from last year, reflecting lower Mac and iPad sales. The results, however, came in above the market’s projections.
Net sales of the Cupertino-based tech firm dropped 3% year-over-year to $94.8 billion in the March quarter. Analysts were looking for a bigger decline.
Net profit was $24.16 billion or $1.52 per share in the second quarter, compared to $25.01 billion or $1.52 per share in the corresponding period of 2022. Earnings topped expectations.
“We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,” said Apple’s CEO Tim Cook.