Apple announced its financial results for its second fiscal quarter of 2024 on Thursday. The company booked $90.8 billion in revenue (down 4% versus the year-ago quarter) with $23.6 billion in profit. Mac revenue was up 4%, presumably buoyed by the release of the M3 MacBook Air. iPad revenue crashed down to $5.6 billion, a 17% drop from the year-ago quarter and the weakest iPad quarter in four years. iPhone revenue was $46 billion, down 10% versus the year-ago quarter.
Services revenue was the big highlight for Apple this quarter, with a new record $23.9 billion in revenue, up 14% year over year. The Wearables, Home, and Accessories category managed only $7.9 billion in revenue, down 10% versus the year-ago quarter.
A funny thing happened as the results were being reported, but I’ll leave that to Zac Hall to sort out.