Apple sees revenue growth for 1st time in a year

By Ovunc Kutlu

ISTANBUL (AA) - US-based global tech firm Apple saw revenue growth for the first time in a year, while it posted an all-time revenue record in Services, according to its financial results statement released Thursday.

The company said it posted quarterly revenue of $119.6 billion, up 2% year-on-year during the October-December period of 2023, while quarterly earnings jumped 16% annually.

"Today Apple is reporting revenue growth for the December quarter fueled by iPhone sales, and an all-time revenue record in Services," CEO Tim Cook said in the statement.

He said the company's installed base of active devices has surpassed 2.2 billion -- an all-time high across all products and geographic segments.

Despite strong results, Apple shares were down 1.43% in after-hours trading.

The company, in addition, announced more than 600 new apps built for Apple Vision Pro, its new mixed reality headset.

"With more than 600 new spatial experiences to explore in the all-new App Store, alongside more than 1 million compatible apps across iOS and iPadOS, users can discover a wide array of apps that expand the boundaries of what’s possible," Susan Prescott, Apple’s vice president of Worldwide Developer Relations, said in a separate statement.

"These incredible apps will change how we experience entertainment, music and games; spark our imaginations with new ways to learn and explore; unlock productivity like never before; and so much more," she added.