Apple has recently released their financial results for the quarter’s end on December 26th. While Apple’s numbers were large like usual, iPhone sales growth slowed rapidly.
Apple generated $75.9 billion in revenue during the three month quarter, with an $18.4 billion profit.
“Our team delivered Apple’s biggest quarter ever, thanks to the world’s most innovative products and all-time record sales of iPhone, Apple Watch, and Apple TV,” Apple CEO Tim Cook said in a news release. “The growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices.”
Apple sold around 74.8 million iPhones during the quarter, compared to the same time last year, where they sold 74.5 million. CNET has recently reported that Apple missed Wall Street’s iPhone sales expectations again. The iPhone’s year-to-year sales growth is now the slowest seen since the company began selling the product in 2007.
Other products are in the decline as well. 16.1 million iPads were sold last quarter, compated to 21.4 million a year ago. 5.3 million Macs were sold as well last quarter, down from the year before at 5.5 million. Apple might experience a revenue decline from $58 billion last year’s March quarter to $53 billion, the first time the company has done so in a decade.
Apple also announced today that within the last three months, over 1 billion of its devices were “engaged” with the company’s services and software.