Apple disappointed by iPhone, decreasing numbers but the turnover exceeds expectations

Apple He concluded the fourth quarter of the 2024 calendar with a turnover of 124.3 billion dollars, recording a 4% increase on an annual basis, but recorded weak sales of iPhone and a drop in revenues in Chinapenalized by strong local competition and a slower introduction of artificial intelligence features.

Apple’s results

The company recorded a sales overall of $ 124.3 billion and a quarterly net profit of $ 36.3 billion, equal to $ 2.40 per diluted action.

These results mark an increase compared to the same period of the previous year, when i revenues they were 119.6 billion dollars and thenet profit He had stood at 33.9 billion dollars ($ 2.18 per diluted action). It is the best fiscal quarter ever for society.

“We were excited to offer customers our best range of products and services ever during the holidays,” said CEO Tim Cook.

“Thanks to the power of the Apple silicon, we are unlocking new possibilities for our users with Apple Intelligence, which makes even better and more personal apps and experiences. And we are excited that Apple Intelligence will be available in even more languages ​​this April, “added the number one of the apple.

Drops in China, the reasons

But there are also in the presentation of the data. Like sales in Chinawho disappointed investors, who dropped by 11.1% reaching $ 18.51 billion, marking the most significant drop in the area from the previous quarter, when they had dropped by 12.9%.

According to Tim Cook, one of the reasons for this drop is for Apple Intelligence available, the apple IA, demanding in many countries but not yet in China.

“We saw that in the markets in which we implemented Apple Intelligence, the performances year on the year on the iPhone 16 family were stronger than those in which Apple Intelligence was not available,” said Cook.

While Cook said Apple Intelligence will arrive in new languages ​​like French and German in April, he also said that there is no timing for when he will be available in China.

How the sales of iPhone and Mac went

The revenues deriving from the services continued to grow, reaching 26.3 billion dollars, with an increase of 24% compared to the 23 billion of the previous year.

This result was mainly driven by the new paid subscriptions, which have exceeded the billion subscriptions through the Apple platforms.

Mac sales recorded a considerable increase, with a turnover of 9 billion dollars, compared to 7.8 billion in the same period of the previous year.

Also the sales of iPad They increased by 15%, with the iPad Air and iPad basic models to tow growth, while iPad Pro has achieved lower results. More than half of iPad sales in the quarter was generated by new users.

Despite the overall growth, iPhone sales decreased compared to the same period of the previous year. The turnover deriving from the iPhones was 69.1 billion dollars, slightly decreased compared to the 69.7 billion of the first tax quarter 2024.

The introduction of Apple Intelligence, integrated into the updates of iOS 18, does not seem to have triggered a significant cycle of updates.

Future forecasts

The conflicting results reflect the “concerns in view of the profits” raised by JPMORGAN analysts, led by Samik Chatterjee, in a recent note to customers.

The group highlighted a series of factors that weigh on the quarter: the decrease in the market share of the iPhone in China, the “limited traction” of artificial intelligence functionality on the iPhones so far, and the winds contrary to the changes, with the recent appreciation of the Dollar that makes American products more expensive abroad.

China represented 17% of Apple revenues in its tax year 2024, which ended in September.