Fewer iPhone, iPad Sales Hurt Apple Results

Drop-off hits revenue and earnings
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 A significant drop in iPhone and iPad sales saw Apple report drops in both revenue and earnings, the company reported April 26.

Second quarter revenue for the tech giant was $50.6 billion, down 13% year over year from $58 billion a year ago, with earnings of $10.5 billion, down from $13.6 billion a year ago.

“Our team executed extremely well in the face of strong macroeconomic headwinds,” Apple CEO Tim Cook said in a statement. “We are very happy with the continued strong growth in revenue from services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”

The company sold 51.2 million iPhones during the quarter, down from 61.2 million a year ago, and down from 74.8 million during the first quarter. Sales of the iPad followed a similar path: the company sold 10.2 million iPads during the quarter, down from 12.6 million a year ago, and down from 16.1 million in the first quarter.

Read more at B&C.