Holy fucking shit. Apple made a fucking ton of money this quarter. Apple is reporting a record-setting quarterly revenue of $75.9 billion (£52.8 billion) surpassing the the $74.6 billion (£51.98 billion) it reported a year ago. That also beats the $58.7 billion (£40.9 billion) quarterly revenue record set by Fannie Mae in 2013.
Despite the record-setting revenue, Apple executives aren’t celebrating. That’s because Apple also reported iPhone revenue will decline at its steepest rate in 15 years. The loss marks an end to more than a decade of accelerated growth and a cultural phenomenon created by the tech giant.
Apple says that it expects to see revenue of $50/£34.8 billion to $53/£36.9 million, which is significantly below the $55.47/£36.6 billion that analysts were predicting. If those numbers are true, it would be the worst year-over-year quarterly decline at Apple since 2001.
The outlook for Apple’s future isn’t quite so rosy as the meteoric iPhone sales might not look so good in the future.