Apple Inc. continued its streak of revenue declines into a fourth consecutive quarter, beating overall sales expectations but coming up short in China.
Overall Greater China revenue came in at $15.1 billion relative to $15.5 billion a year before, whereas analysts were projecting $16.8 billion.Mac revenue fell to $7.6 billion from $11.5 billion a year earlier, while iPad revenue dropped to $6.4 billion from $7.1 billion. The FactSet consensus was for $8.5 billion and $6.2 billion, respectively.
“Our active installed base of devices has again reached a new all-time high across all products and all geographic segments, thanks to the strength of our ecosystem and unparalleled customer loyalty,” Chief Financial Officer Luca Maestri said in a release.