After four consecutive quarters of revenue declines, Apple has finally put an end to the trend. The financial report for the first quarter of fiscal 2024 shows that quarterly revenue increased by 2 percent compared to the same period in the previous year and was $119.6 billion.
According to the information provided by the company’s CEO Tim Cook, the number of active Apple branded devices has exceeded 2.2 billion. This means all-time highs have been reached across all products and geographic segments. During the three-month period covered by the report, it is possible to clearly see the sales success of the iPhone 15 series, which was introduced and put on sale in September 2023. It is noteworthy that the iPhone 15 series played an important role in the revenue increase.
Cook noted that the company broke all-time records for revenue growth from iPhone sales and Services for the December quarter. According to the information given by the experienced manager; The company reached an all-time revenue record in advertising, cloud services, payment services and other services. It is also among the information provided by Cook that quarterly records were broken on the App Store and Apple Care side.
At the meeting where the financial report was evaluated, Cook reminded that the company’s mixed reality headset, Vision Pro, will be released as of today and stated that this has a historical importance. Stating that they are determined to invest in new technologies, Cok added that the company will share more information about developments in the field of artificial intelligence later this year.
Although products in the wearable, home and accessories categories did not perform well this quarter, sales in the Mac division increased year over year. In particular, iPad sales fell 25 percent compared to the same period last year. However, Cook attributes this to “the fact that it is difficult to compare” with the large numbers recorded in the first quarter of 2023 due to new models with renewed Apple Silicon. Considering that the company has not released any new iPad models in 2023, this does not seem surprising.
Cook: Apple is a company that never shy away from big challenges
While Cook shared the information that the company opened its 1000th store in the Asia Pacific region, he also gave information about its sustainability efforts. The experienced manager concluded his words as follows: “Apple is a company that never avoids big challenges. That’s why we’re optimistic about the future, confident in the long term, and more excited than ever to deliver to our users.”