Apple has a pretty good quarter – the stock just jumped 4% after hours on $45.4 billion in revenue and earnings per share of $1.67. But there’s one dark..
Apple has a pretty good quarter – the stock just jumped 4% after hours on $45.4 billion in revenue and earnings per share of $1.67.
But there’s one dark spot in the company’s results – and that’s performance in Greater China.
Apple took in just over $8 billion in revenue from Greater China this quarter, which is less than half of what it made there two years ago in Q2 2015. It’s also a 10% decline year-over-year and a 25% decline from last quarter. To compare, revenue generated in the Americas was up 13% year-over-year, and down only 4% from last quarter.
Greater China is also the only region which saw negative growth year-over-year.
At least Apple seems to be aware of, and working on the issue. A few weeks ago the company appointed its first ever managing director of Greater China, who will report directly to CEO Tim Cook and COO Jeff Williams.
China was once a bright spot for Apple, and the fastest growing region for the company. Q2 2015 saw $16.8 billion in revenue from China. Two years later, the company is now making less than half of that.
We’ ll listen in on the conference call and update this if the company gives any more clarity on the region.
