![]() The brightest spot was in China, where Apple grew its iPhone sales by “double digits” amid a smartphone market that declined 8% overall, according to Maestri. “It’s a direct reflection of our ecosystem’s strength,” he said. ‘Uneven environment’Ĭook said the company is navigating an “uneven macroeconomic environment” but nevertheless set records in services, advertising, its App Store and music. The stock is still up more than 50% for the year. In initial after-hours trading, the company’s stock fell more than 2.7% following Chief Financial Officer Luca Maestri’s comments on the earnings call that fiscal fourth-quarter sales results would be similar to the quarter just completed, meaning a decline of roughly 1%. Chief Executive Officer Tim Cook (pictured) said nearly half of Mac buyers during the quarter were new to the product. Mac sales of $6.84 billion were down 7% but beat estimates of $6.62 billion, and iPad revenues dropped 20%, to $5.79 billion, against estimates of $6.41 billion. However, executives noted that currency fluctuations took about a 4% toll on revenues, meaning that iPhone revenue grew slightly in the quarter. On a product line basis, iPhone sales slipped 2%, to $39.67 billion, slightly below analysts’ estimates of $39.91 billion. Earnings per share of $1.26 beat expectations of $1.19 per share. Revenue fell 1.4%, to $81.8 billion, topping analysts’ expectations of $81.69 billion. beat modest Wall Street expectations for sales and profits in its fiscal third quarter, with strong iPhone sales in China helping compensate for a global decline in the smartphone market, but its third consecutive quarter of declining revenues was the longest losing streak the company has had since 2016. Link is available as a wallet through the Payment Request Button, and is enabled automatically, with no code changes required.Apple Inc. For payments processed without a platform, you can use the Link settings page in your Dashboard to manage Link for the Payment Request Button.
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