- Apple said it struggled through a “challenging operating environment” to keep its sales on track for the second quarter.
- CEO Tim Cook said the company’s results “showcase Apple’s continued efforts.”
Apple on Thursday said it battled through a “challenging operating environment” to keep sales on track in the second quarter, but the company plans to be more “deliberate” with spending decisions, including hiring, in the coming months. is of.
The tech giant announced that it generated more revenue from iPhones, iPads and services (like the App Store) than Wall Street expected, helping grow its total sales to nearly $83 billion, essentially in line with Wall Street’s estimates. compatible.
Apple shares were up 3% in recent after-hours trading.
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“This quarter’s record results speak to Apple’s continued efforts to pursue new possibilities and enrich the lives of our customers,” Apple CEO Tim Cook said in the company’s earnings release.
Despite Apple’s strong quarterly results, there were some weak spots. Revenue for Mac computers was lower than expected and saw its first revenue decline since the start of the pandemic when people rushed to buy new home tech gear.
Cook said the weakness of Mac computers was primarily due to taking out Apple’s “primary source of supply” for Mac units in China.
In addition, sales of the company’s wearables, home and accessories division fell to $8.08 billion from $8.78 billion a year ago.
Sales in Asia’s most populous countries indicated some pain: Revenue in both China and Japan were down compared to the same quarter a year ago.
Cook didn’t explicitly say that Apple is slowing hiring amid the challenging macroeconomic environment, but told CNBC, “We see inflation in our cost structure. We see it in things like logistics and wages and some silicon components.” , and we’re still recruiting, but we’re doing it intentionally.”