APPLE REPORTS SECOND QUARTER RESULTS

SAN FRANCISCO, May 3 (Bernama-Xinhua) -- Apple on Thursday announced financial results for its fiscal 2024 second quarter ending March 30, with a quarterly revenue of US$90.8 billion, down 4 per cent year over year, reported Xinhua.

The company posted its quarterly earnings per diluted share of US$1.53, one cent higher year over year.

Its net income for the quarter decreased to US$23.64 billion from US$24.16 billion a year ago.

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The company's service sales rose to US$23.87 billion from US$20.91 billion year on year.

Sales of iPhone decreased to US$45.96 billion from US$51.33 billion a year ago.

Its sales of Wearables, Home, and Accessories products dropped slightly to US$7.91 billion from US$8.76 billion a year ago.

Apple's net sales in the Greater China region decreased to US$16.37 billion from US$17.81 billion a year ago, according to Apple's financial statement.

"Today Apple is reporting ... an all-time revenue record in Services," said Tim Cook, Apple's CEO.

During the quarter, we were thrilled to launch Apple Vision Pro and to show the world the potential that spatial computing unlocks. We're also looking forward to an exciting product announcement next week and an incredible Worldwide Developers Conference next month."

 "Given our confidence in Apple's future and the value we see in our stock, our Board has authorised an additional US$110 billion for share repurchases. We are also raising our quarterly dividend for the twelfth year in a row," said Luca Maestri, Apple's CFO.

Apple's board of directors has declared a cash dividend of US$0.25 per share of the company's common stock, an increase of 4 per cent. The dividend is payable on May 16, 2024, to shareholders of record as of the close of business on May 13, 2024.  

-- BERNAMA-XINHUA