Apple's revenue falls for 4th consecutive quarter
The revenue of US tech giant Apple for the July-September period decreased by approximately 1 percent year-on-year to 89.5 billion dollars. During this period, while Apple's smartphone sales increased, tablet and computer sales declined.
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According to the statement made by Apple, the company's revenue for the July-September period, which it considers the fourth quarter in its balance sheet, fell by approximately 1 percent compared to the same period last year to 89.5 billion dollars. The company had generated 90.2 billion dollars in revenue during the same period last year.
Thus, a decline in the company's revenue has been recorded for the 4th consecutive quarter. Despite the decline in this period, the company's revenue came in above market expectations, which had projected 89.3 billion dollars.
Apple's net profit, on the other hand, increased by 10.8 percent in the July-September period compared to the same period of the previous year, rising to 22.96 billion dollars. The company's net profit was recorded at 20.72 billion dollars in the same period last year.
The firm's earnings per share also rose from 1.29 dollars to 1.46 dollars during the period in question.