Apple is in fantastic shape (as long as you ignore the iPhone)

Well, it could’ve been much worse.

Apple reported its first-quarter earnings (its fiscal year starts in October) today, Jan. 29. Investors and analysts had braced for a tough quarter, after the company announced earlier in the month that it would miss the revenue target it set on last quarter’s earnings call. Apple originally had said it expected to generate between $89 billion and $93 billion in the holiday quarter, but revised its estimate target down to $84 billion—about $4 billion less than it generated in the same quarter in 2017.

The company recorded sales of $84.3 billion in the holiday quarter, slightly higher than its second estimate, but still quite a drop over the same period last year.

Thanks for supporting our journalism! You’ve hit your monthly article limit. Become a member to help build the future of Quartz.

Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more.

About the author

Add a Comment

Your email address will not be published. Required fields are marked *