Apple Inc (NASDAQ: AAPL) Thursday’s earnings call detailed a 4-quarter straight drop on AAPL revenues. AAPL did not expect its revenue to grow in the December quarter, as many would buy any of Apple’s products as a new gift or to use it during the happy season. Even though the financials did beat the analyst expectation, the AAPL revenue still fell about 1% compared to last year of $89.5 billion due to drops in sales of other products, despite sales of the iPhone 15 performing better than iPhone 14.
AAPL’s CFO, Luca Maestri, compared the current December quarter as it is a week shorter than last year’s 14 weeks. He said last year’s extra week added about 7% to total revenue. Analysts expected AAPL revenue to grow around 5% YoY from $117.15 billion to $123 billion in this year’s December quarter, as iPhone sales alone made up to $65.78 billion.
The CFO said the Mac revenue fell by around 34% YoY in this September quarter, showing a weakness in other AAPL products. APPL’s iPad revenue is also expecting further decline by 10%, as there is no new iPad model this year. Meanwhile, AAPL’s service business grew by 16% during this September quarter from online stores, licensing deals with Google and Apple Music subscriptions.
