The world’s most valuable tech company, which relies on the iPhone for half its sales, reported on Thursday that revenue fell 1 percent, to $81.8 billion, during the three months that ended in June.
Profit increased 2 percent, to $19.88 billion.
Apple’s financial results were the latest indication that tech’s biggest companies have found their footing after last year’s downturn.
Last week, Facebook’s parent company, Meta, and Google’s parent company, Alphabet, reported double-digit growth in profits driven by a rebound in digital ad sales.
Microsoft posted a record quarterly profit behind a surge in cloud-computing sales, and Amazon on Thursday posted nearly twice the profit expected by Wall Street.
Organizations:
Apple, Meta, Microsoft, Wall