{"id":478913,"date":"2022-07-28T23:51:15","date_gmt":"2022-07-28T20:51:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/apple-profit-drops-11-but-iphone-escapes-economic-slump\/"},"modified":"2022-07-28T23:51:15","modified_gmt":"2022-07-28T20:51:15","slug":"apple-profit-drops-11-but-iphone-escapes-economic-slump","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/apple-profit-drops-11-but-iphone-escapes-economic-slump\/","title":{"rendered":"#Apple profit drops 11%, but iPhone escapes economic slump"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b6256b736b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b6256b736b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/apple-profit-drops-11-but-iphone-escapes-economic-slump\/#%E2%80%9CApple_profit_drops_11_but_iPhone_escapes_economic_slump%E2%80%9D\" >&#8220;Apple profit drops 11%, but iPhone escapes economic slump&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CApple_profit_drops_11_but_iPhone_escapes_economic_slump%E2%80%9D\"><\/span>&#8220;Apple profit drops 11%, but iPhone escapes economic slump&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>le\u00a0on Thursday reported profit and sales that beat Wall Street expectations, navigating parts shortages better than predicted and benefiting from unceasing demand for iPhones even as inflation has consumers tightening other spending.<\/p>\n<p>Apple\u00a0said sales and profit for the quarter ended\u00a0June 25\u00a0were\u00a0$83\u00a0billion and\u00a0$1.20\u00a0per share,\u00a0above\u00a0estimates of $82.8 billion and\u00a0$1.16\u00a0per share, according to Refinitiv data. Profit fell 11% to $19.4 billion from a year earlier.<\/p>\n<p>Apple\u00a0is expected to give a forecast for the current fiscal fourth quarter during an investor call, but\u00a0Chief Financial Officer Luca Maestri told Reuters there had been no slowdown in demand for iPhones.<\/p>\n<p>Investors are watching\u00a0Apple\u00a0and CEO Tim Cook closely as economic indicators turn negative. In the past, the iPhone maker\u2019s loyal and relatively affluent customer base has helped it weather dips better than other consumer brands.<\/p>\n<p>While sales of iPhones and iPads topped expectations, revenue\u00a0from\u00a0services, Mac computers and accessories missed Wall Street targets. Sales in the crucial China market fell 1%.<\/p>\n<p>The most recent economic woes include supply chain disruptions from COVID-19 lockdowns in China that have hit production of some\u00a0Apple\u00a0products such as iPads and Macs.\u00a0Apple, like many of its tech industry peers, is reportedly slowing hiring and cutting costs given the tough economic climate.\u00a0<\/p>\n<p>Apple\u00a0shares closed Thursday down about\u00a011%\u00a0so far this year, slightly less than the broader S&amp;P 500\u00a0index and also less than other consumer hardware makers such as Sonos\u00a0and Samsung Electronics.<\/p>\n<p>It will be a key test of whether\u00a0Apple\u2019s years-long effort to diversify its business beyond the iPhone has paid off.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/apple-2q-04.jpg?w=1024\" alt=\"Apple CEO Tim Cook \" class=\"wp-image-23247451\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/apple-2q-04.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/apple-2q-04.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/apple-2q-04.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Apple\u2019s loyal and relatively affluent customer base has helped CEO Tim Cook weather dips better than other consumer brands. <\/figcaption><figcaption><span class=\"credit\">Xinhua <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> Agency via Getty Ima<\/span><\/figcaption><\/figure>\n<p>Apple\u00a0said iPhone sales were $40.7 billion, up about 3% from a year earlier and well ahead of the overall global smartphone market, which fell 9% during the just-ended quarter, according to Canalys data.<\/p>\n<p>Growth\u00a0in the company\u2019s services business, which has provided a boost to sales and profits in recent years,\u00a0was 12%, below the previous year\u2019s 33% rate and resulting in\u00a0$19.6 billion\u00a0in revenue,\u00a0below\u00a0estimates of $19.7 billion.<\/p>\n<p>Apple\u00a0said it now has\u00a0860 million\u00a0paying subscribers on either its paid services or to paid software in its App Store,\u00a0up from the previous quarter\u2019s 825 million.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/apple-2q-03.jpg?w=1024\" alt=\"Apple smartphones, tablets\" class=\"wp-image-23247482\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/apple-2q-03.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/apple-2q-03.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/apple-2q-03.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Apple said iPhone sales were $40.7 billion, up about 3% from a year earlier and well ahead of the overall global smartphone market.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Apple\u00a0had told investors to expect a hit of between $4 billion and $8 billion from supply chain disruptions, though it did not give an overall revenue forecast from which to subtract those numbers. Analysts believed the disruptions hardest hit sales of Macs and iPads whose assembly locations were clustered near regions of China that went into COVID lockdowns.<\/p>\n<p>\u201cOur June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment,\u201d Maestri said in a statement.<\/p>\n<p>Sales of iPads and Macs were\u00a0$7.2\u00a0billion and\u00a0$7.4\u00a0billion,\u00a0compared with\u00a0estimates of $6.9 billion and $8.7 billion.\u00a0Mac sales represented a 10% contraction, after\u00a0record sales since 2020, first from a work-from-home boost and then from\u00a0Apple\u2019s new proprietary processor chips.<\/p>\n<p>In its most recent fiscal year, nearly a fifth of\u00a0Apple\u2019s sales came from its Greater China region after two years of struggling sales there. But now\u00a0Apple\u00a0is confronting slow overall economic growth in China, where its fiscal third-quarter sales were\u00a0$14.6\u00a0billion,\u00a0down 1%.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/07\/28\/apple-profit-drops-11-but-iphone-escapes-economic-slump\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Apple profit drops 11%, but iPhone escapes economic slump&#8221; Apple\u00a0on Thursday reported profit and sales that beat Wall Street expectations, navigating parts shortages better than predicted and benefiting from unceasing demand for iPhones even as inflation has consumers tightening other spending. Apple\u00a0said sales and profit for the quarter ended\u00a0June 25\u00a0were\u00a0$83\u00a0billion and\u00a0$1.20\u00a0per share,\u00a0above\u00a0estimates of $82.8 billion&#8230;<\/p>\n","protected":false},"author":1,"featured_media":478914,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/apple-2q-99.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[131791,5029,78,70237,5030,70587],"class_list":["post-478913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-7-28-22","tag-apple","tag-computers","tag-corporate-earnings","tag-iphone","tag-tim-cook"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/478913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=478913"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/478913\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/478914"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=478913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=478913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=478913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}