Less than a week after the event dedicated to the presentation of the new iPads, Apple today published the results for the second fiscal quarter of 2024, outlining a predictable scenario for its now dated tablet line. Revenue from iPad sales saw a significant decline of 17% year over year amid an unprecedented wait for new models. At the same time, iPhone sales showed a slight decrease of 10%, while the services sector continues to shine with growth of 14% compared to the same quarter of the previous year. During this quarter, Apple also launched its Vision Pro headset, but CEO Tim Cook provided no details on the product’s performance. In the press release, Cook expressed excitement about the launch of the Vision Pro and the potential of space computing.
This is the latest financial report ahead of the WWDC conference in June, where Apple will reveal its strategy for integrating generative AI capabilities into its iOS, macOS, iPadOS and other operating systems. “We believe in the transformative power and promise of AI, and we believe we have advantages that will differentiate us in this new era,” Cook commented on the analyst call. Apple is rumored to be exploring potential partnerships between Google and OpenAI. But before all that, Apple is expected to announce the new iPad Pros with OLED displays and the new iPad Airs next Tuesday, accompanied by a host of new accessories. Apple announced quarterly revenue of $90.8 billion, down 4% from a year earlier, and diluted earnings per share of $1.53. “During the quarter, we achieved a new revenue record in our Services business,” said Tim Cook. Luca Maestri, Apple’s CFO, added that customer satisfaction and loyalty have driven the company’s active installed base to new all-time highs. The board of directors also declared a cash dividend of $0.25 per share, up 4%.
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