Apple said it has surpassed 2 billion active devices, but the tech giant disappointed Wall Street with its fiscal first-quarter results.
The tech giant reported revenue of $117.2 billion, down 5% from the year-ago quarter, with earnings per diluted share of $1.88.
Wall Street analysts’ consensus forecast was for revenue of $121.1 billion and earnings of $1.94. In its earnings release, the company cited a “challenging environment” during the quarter ended December 31, which included a wave of disruptions in China.
CFO Luca Maestri noted that revenue in the company’s Services unit (which includes streaming offerings like Apple Music and Apple TV+) set a record with $20.8 billion in revenue during the quarter.
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