Apple’s revenue fell for the first time in 13 years – RBC

Apple CEO Tim Cook speaks at the presentation of the company. March 21, 2016

Photo: Marcio Jose Sanchez / AP

Apple reported a fallen for the first time since 2003 the revenue. For the second quarter of the current fiscal year, it was $ 50.6 billion compared to $ 58 billion last year

Apple reported its financial results for the second quarter of 2016 fiscal year, among them – the fallen for the first time since 2003, the revenue .

According to the report, the company’s revenue for the quarter was $ 50.6 billion, and net profit – $ 10.5 billion ($ 1.9 per share). In the same quarter last year, revenue was $ 58 billion, and net profit – $ 13.6 billion ($ 2.33 per share)

iPhone sales in the second quarter of this year compared with the same period. It fell by 16% last year. The biggest drop in sales – 26% – recorded in China and in the US fell by 10%

At the same time, the company announced it will increase its quarterly dividend -. 10% – in the amount of $ 0.57 per share. Apple also announced that it will buy shares in the amount of $ 175 billion instead of the $ 140 billion.

Apple’s revenue was lower than the forecast of analysts, who had predicted a drop to $ 52 billion. Analyst Gene Munster of Piper Jaffray earlier said the CNBC, that Apple has become a victim of the success of the previous model iPhone 6 smartphone, whose sales surpassed sales of the iPhone 5 to 30% compared with the expected growth of 15% and made 2015 an extremely successful year for the company.

Munster in at the same time he advised not to consider a drop in revenue as a change of trend, as iPhone sales are two-year cycle. Annual conclusion, he noted, will be positive.

Apple shares after the main session against the publication of reports fell by almost 8.2% as of 2:35 MSK. The company’s shares are trading at $ 95.8 compared to $ 104.35 at the close of trading.