Apple’s Latest Financial Results: Is the iPhone Company on the Right Track?

Apple has published its results for the first quarter of this year. It seems that Tim Cook made a good move when he forced a focus on services.

Apple announced its financial results for the quarter ended March 31. The company’s quarterly revenue was 94.84 billion dollars, which exceeded expectations of 92.96 billion dollars, but represented a slight decrease compared to the same period of the previous year. Quarterly earnings per share were $1.52, unchanged from the same period last year.

Perhaps the most important figure was the sale of iPhones, the revenues from this came in better than expected. In the first three months of the year, Apple generated $51.33 billion from its most important product, which exceeded the $48.84 billion expected by Wall Street analysts, as well as the $50.57 billion in revenue realized from the iPhone a year earlier. The said amount was the highest revenue ever measured for an iPhone in a fiscal second quarter.

Also worth mentioning is the services business: revenue from this, which has become an increasingly important source of income for Apple, produced a record $20.91 billion in revenue, just short of Wall Street’s forecast of $20.97 billion. Last year, the business generated $19.82 billion in the quarter, so Apple can report a 5.5 percent increase this year.

Of course, not everything soared, iPad sales, for example, did not exceed Wall Street’s forecasts and last year’s figure. In the first quarter of this year, iPads brought in $6.67 billion, compared to the expected $6.69 billion and last year’s $7.65 billion. This means an annual decrease of 12.81 percent.

Revenue from wearables and accessories (a category that includes AirPods and Apple Watches) fell slightly, from $8.81 billion to $8.76 billion. Compared to the same period last year, sales decreased in America ($37.78 billion vs. $40.88 billion), Greater China ($17.81 billion vs. $18.34 billion) and Japan ($7.18 billion vs. $7.72 billion). However, its quarterly revenue increased in Europe ($23.95 billion vs. $23.29 billion) and in the rest of the Asia Pacific region ($8.12 billion vs. $7.04 billion).

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