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Apple reported a year-over-year revenue decline in its fiscal second-quarter earnings report released after the bell Thursday, but still beat Wall Street expectations.
The tech giant’s revenue fell 4.3% year over year to $90.75 billion. Analysts had expected sales of $90.01 billion.
The Apple logo is seen outside the Bill Graham Civic Auditorium before the start of an event in San Francisco on September 7, 2016. (Josh Edelson/AFP via Getty Images/Getty Images)
iPhone sales fell 10.5% to $45.96 billion, in line with expectations. Apple executives said in February that the company benefited from a $5 billion increase in iPhone sales in the second quarter of last year’s fiscal year, bouncing back from supply chain disruptions during pandemic lockdowns.
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Apple’s stock price rose nearly 3% in extended trading after the news. apple stock It’s down 10% so far in 2024, lagging the S&P 500’s 6% rise.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| AAPL | Apple. | 173.03 | +3.73 | +2.20% |
Apple also announced an additional $110 billion in stock buybacks and announced it would raise its quarterly dividend for the 12th consecutive year.
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Reuters contributed to this report.
