On Thursday, Apple reported impressive 5% year-over-year growth with quarterly revenue of $85.8 billion. The surprise of the quarter was the iPad, which posted its best non-holiday quarter since 2020 with more than $7 billion in sales.
The other standout segment is Apple’s Services division, which continues to grow each quarter. Services posted revenue of $24.2 billion, up slightly from the previous quarter and more than 10% from last year. Mac sales also increased slightly from the same quarter in 2023, surpassing $7 billion in sales. Elsewhere, the iPhone was essentially flat, totaling $39.3 billion in sales compared to $39.7 billion last year. And Wearables, Home, and Accessories, which includes Vision Pro and the Apple Watch, also declined slightly, from $8.3 billion to $8.1 billion. Here’s the breakdown for the quarter:
- iPhone: $39.3 billion (down 1%)
- iPad: $8.1 billion (up 24%)
- Mac: $7 billion (up 2%)
- Wearables: $8.1 billion (down 2%)
- Services: $24.2 billion (up 14%)
During the quarter, Apple released a new iPad Pro and iPad Air and lowered the price of the 10th-generation model. The new models clearly had an impact on sales, with all regions posting growth except China, which declined about 7%.
Apple will hold a conference call at 5:00 PM ET to discuss the quarter’s results. We will update this article with any interesting and relevant information.
