Apple has just reported on its earnings for 2019. Here’s what the number tell us.
Apple’s once-unflappable iPhone revenue is officially in retreat with a 15% shortfall year-over-year, according to its latest earnings statement today, so CEO Tim Cook explained what went wrong in a conference call.
Here’s what we know so far about this developing Apple story. The company’s total revenue was $84.3 billion (about £67b, AU$120b) for the last three quarters ending on December 29. For almost any other company but Apple, this would be an impressive number.
However, for Apple, this is a rare earnings shortfall of $9 billion (about £7.14b, AU$12.9b) compared to what it had previously forecast for the quarter: a high of $93 billion (about £74b, AU$133b).
Each quarter, Apple forecasts high and low numbers it expects for the next quarter’s earnings.
