Apple Reports Mixed Quarterly Results
Although iPhone sales dropped 17 percent in the first three months of 2019 — while profits slid 16 percent to $11.56 billion and revenue dipped 5 percent to $58 billion — those results still beat analysts’ expectations. CEO Tim Cook said his company expects to “pick up the pace” after a disappointing several months, which included an underwhelming holiday season, projecting revenue of up to $54.5 billion for the current quarter. Shares jumped 5 percent in after-hours trading yesterday.
What should Apple be doing? Besides ensuring iPhone sales don’t continue sliding, experts say the company should prepare to shift away from its traditional strength and focus on more global needs.