“Apple’s meteoric rise in the last 15 years has been punctuated by devices that changed the landscape of personal computing: the iPod, iPhone, and iPad,” Dave Gershgorn writes for Quartz.
“But the company has hit its first real bump in that remarkable run, and 2016 marked the first year since 2001 that Apple posted an annual decline in revenue and profit (Apple’s fiscal year ended Sept. 24),” Gershgorn writes. “The company reported $46.9 billion in revenue for the fourth quarter, down about 9% from a year earlier. It was the third consecutive quarter of declining revenue for the company. Sales for the year were $215.6 billion, compared to $233.7 billion in fiscal 2015.”
“Apple said it expects revenue of $76 billion to $78 billion in the quarter. That would put it back in positive growth territory; it recorded $75.9 billion in sales in the first quarter of 2015,” Gershgorn writes. “Services continued to be a bright spot, though it still makes up just a small piece of the company’s overall revenue. Revenue from the category, which includes iCloud, Apple Music services, and Apple Care, increased 24% during the quarter to $6.3 billion.”
Read more in the full article here.
MacDailyNews Take: The tough compare created by Apple being years late to market with a properly-sized iPhone is now blessedly OVER.
Apple has now forecast a return to growth.
Apple’s fiscal 2016 revenue from Services alone ($24.348 billion) would stand at #155 on the Fortune 500 list of the largest U.S. corporations by total revenue, ahead of the likes of Duke Energy, Time Warner Cable, and Halliburton.
Perspective is a wonderful thing.
MacDailyNews presents live notes from Apple’s Q416 conference call – October 25, 2016
Apple beats Street, services revenue grows 24% to all-time quarterly record of $6.3 billion – October 25, 2016