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Apple's growth has halted

Apple keynote presentation iPad lineup
Apple keynote presentation
After more than a decade of continuous growth, the Cupertino-based company reports its first drop, mainly caused by weak iPhone sales.
Codrut Nistor,

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Apple has announced its quarterly financial results yesterday and, unfortunately, this was the first drop after 13 years of sustained growth. The main culprit for this is the company's handset, which failed to meet the expectations.

All in all, Apple managed to miss the expectations on revenue and guidance, posting a revenue of $50.6 billion for the second quarter of 2016, down from the $58 billion reported for the same period of 2015. This stands for a net income of $10.5 billion, or $1.90 per diluted share, down from the $13.6 billion, or $2.33 per diluted share the company managed to achieve back in 2015.

Apple' CEO Tim Cook said, "We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices." He also added that the Apple team "executed extremely well in the face of strong macroeconomic headwinds."

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Codrut Nistor
Codrut Nistor - Senior Tech Writer - 5428 articles published on Notebookcheck since 2013
In my early school days, I hated writing and having to make up stories. A decade later, I started to enjoy it. Since then, I published a few offline articles and then I moved to the online space, where I contributed to major websites that are still present online as of 2021 such as Softpedia, Brothersoft, Download3000, but I also wrote for multiple blogs that have disappeared over the years. I've been riding with the Notebookcheck crew since 2013 and I am not planning to leave it anytime soon. In love with good mechanical keyboards, vinyl and tape sound, but also smartphones, streaming services, and digital art.
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2016 04 > Apple's growth has halted
Codrut Nistor, 2016-04-27 (Update: 2016-04-27)