However, unit sales were also down, so perhaps customers are awaiting the next-generation iPhone, expected in a few months. If anything, the iPhone SE might have hurt revenues, given that CFO Luca Maestri indicated that it lowered the iPhone’s overall average selling price. Unfortunately, not even the seemingly popular iPhone SE has reinvigorated interest.
IPhone sales, as Apple predicted last quarter, are again down year over year: 15 percent in units sold and 23 percent in revenue. The company has now completed almost $177 billion of its $250 billion capital return program. Furthermore, the company returned over $13 billion to investors in the last quarter through share repurchases and dividends. Despite declining revenues, Apple beat analysts’ expectations, prompting the stock to rise nearly 7 percent in after-hours trading. However, Apple’s investors are not suffering. The company’s revenues are down 6.9 percent compared to its record-breaking year-ago quarter, which brought in revenues of $49.6 billion and profits of $10.7 billion (see “ Apple Posts Record Financials for Q3 2015,” 21 July 2015). Reporting on its third quarter financial results, Apple has announced net profits of $7.8 billion ($1.42 per diluted share) on revenues of $42.4 billion. #1642: How to identify phishing attacks, new iPhone and iPad passcode requirements.#1643: New Mac mini and MacBook Pro models, new second-gen HomePod, security-focused OS updates, industry layoffs.#1644: Explaining Mastodon and the Fediverse, HomePod Software 16.3 and tvOS 16.3, GoTo breach.#1645: AirPlay iPhone to Mac for remote video, Siri learns to restart iPhones, Apple's Q1 2023 financials.1646: Security-focused OS updates, Photos Workbench review, Mastodon client wishlist, Apple-related conferences.
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