It appears that Apple is really starting to feel the loss of Steve Jobs as now for the second time profit is declining. Especially the cash cows, the iPhone and the iPad are causing headaches, since the sales numbers are still declining.

During the third quarter of Apple's fiscal year 2016 iPhone sales declined by 15% to 40.4 million units. iPad sales went down by 9% with the company selling 9.9 million units. In the case of their Macs 4.3 million units were sold meaning 11.5% less Macs were sold. Analysts expected Apple to sell about 10% less Macs and iPads than what the company actually did.

Apple earned $10.68US Billion in the past quarter, which is 27% less than what it achieved in the same quarter last year. Total revenue went down from $49.61US Billion to $42.36US Billion. This is the second quarter in a row that Apple's revenue and profit is declining and especially the iPhone sales are affecting the numbers.

Looking into local market Apple is struggling in China, where revenue went down to $8.85US Billion, which is a 33% decline compared to the $13.2US Billion the company made a year ago. In Asia only the Japanese market has growth. Asia is the most important market for Apple in the future, yet revenue went down by 20%.

Although this results are not brilliant for Apple standards Wall Street responded positively seeing the shares go up by 5%. For this quarter revenue between $45.5US and $47.5US Billion is expected.



Source: Apple