Apple’s financial report for the second fiscal quarter of 2024 was released, following the launch of its new iPads. The company’s iPad sales experienced a significant decline of 17% year over year, as customers eagerly awaited the release of new models. Meanwhile, iPhone sales also saw a slight decrease of 10%, while the services sector continued to grow by 14% compared to the previous year. Despite this, CEO Tim Cook did not provide specific details about the performance of Apple’s upcoming Vision Pro headset.
As Apple prepares for its upcoming WWDC conference in June, it is set to unveil new iPad Pros with OLED displays and new iPad Airs, along with a variety of accessories. During this time, Cook expressed enthusiasm for the potential of AI and hinted at possible partnerships with Google and OpenAI. These developments highlight Apple’s focus on innovation and customer satisfaction, which remains at the forefront of its strategy as it navigates a changing landscape in the tech industry while maintaining its position as a leader in technology and innovation.
In addition to these updates, Apple reported quarterly revenue of $90.8 billion, which represents a 4% decline from the previous year. The diluted earnings per share came in at $1.53. Tim Cook highlighted record revenue in the Services business and emphasized customer satisfaction driving the company’s active installed base to new highs. To reward its shareholders, Apple also announced a 4% increase in its cash dividend per share.
