Apple Announces $58 Billion Revenue In Q2 2019 As iPhone Sales Drop By 30%

Apple, one of the biggest technology companies in the world released its quarterly earnings on April 30. According to the reports, the company earned US$ 58 billion in revenue and $11.56 billion in profits. While the company stopped revealing the sales of iPhones, iPads and Macs starting last year, a separate report from the International Data Corporation (IDC) has also been announced, revealing the same. It stated the global smartphone market saw a decline of around 6 percent Year on Year (YoY) compared to the same quarter in the year 2018. This led to Apple iPhones performing the worst out of the bunch, seeing a sharp sales decline of 30 percent over last year.

Apple’s Revenue For The Quarter

Apple Watch Series 4

Apple earlier predicted revenue between US$ 55 billion and US$ 59 billion for this quarter of the year. While the actual number hits the predicted mark, it is slightly lower than the US$ 61.1 billion the company announced the same quarter last year. The lower number is credited due to the gradually diminishing hardware sales. Despite the decrease in revenue, the CEO of Apple, Tim Cook was noted saying the company has hit an all-time record for services and has seen a strong momentum of Wearables and Home accessories category. According to him, more details about the companies revenues and sales will be shared at the 30th Annual WWDC (Worldwide Developers Conference) scheduled for the month of June.

Apple AirPods

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Furthermore, according to the aforementioned quarterly report by IDC, Apple shipped around 36.4 million iPhones during this quarter of the year. Notably, this is a significant 30.2 percent decline compared to the same time period last year when it shipped 52.2 million iPhones. The total breakdown of Apple’s revenue breakdown by its hardware products compared to last year is mentioned below.