(AOF) – The apple firm generated in the second quarter, ended at the end of March, a net profit of 23.64 billion dollars, or 1.53 dollars per share, against respectively 24.16 billion dollars and 1.52 dollar per share, a year earlier. Earnings per share came in 3 cents above consensus. Revenue fell 4.3% to $90.75 billion. It also exceeded market expectations: $90.33 billion.
Closely watched, sales in China (Greater China) – which had disappointed the previous quarter – fell by 8.1% to 16.37 billion dollars while they were anticipated at 15.87 billion dollars, according to the analysts surveyed. by Bloomberg.
iPhone revenue fell 0.15% to $45.963 billion. However, they held up better than expected: $45.76 billion.
Services, which include in particular the App Store, iCloud and iTunes, showed growth of 14.1% to $23.87 billion while the market expected $23.28 billion.
Good news for shareholders, including Warren Buffet, Apple announced a 4% increase in its quarterly dividend to 25 cents per share, and a new share buyback program amounting to $110 billion.
Speaking on the conference call with analysts, Chief Financial Officer Luca Maestri said he expects the company’s total revenue to grow single-digit year-over-year in the current quarter, despite a drag effect. unfavorable exchange rate of approximately 2.5 percentage points. The gross margin is anticipated between 45.5% and 46.5% compared to 46.6% in the second quarter.
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Sector sheet – Electronics
Large TVs booming
If specialists expected less appetite for large televisions after the health crisis, this is clearly not the case. The IFA highlighted the development of this equipment, with screens that can reach up to 120 inches. This market segment should see its activity driven by next summer’s Olympic Games. Leader for seventeen years in the television market, Samsung offers the most complete technological range. Large televisions are rather standard products for the Korean giant. As for the Chinese TCL, which took second place in the world market from LG, it is banking on the accessibility of its products, with prices significantly lower than those charged by Samsung. The group achieved growth of nearly 68% between the first half of 2021 and 2022 in the segment over 65 inches. Over one year, the average size of screens marketed by TCL increased from 46.3 to 49.9 inches. Another Chinese player, Hisense, is also seeking to gain market share in this niche.
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New historic decline in computer sales
After having already suffered a sharp decline last year, the market is faced with demand which remains weak. Supply suffers from excess inventory, which impacts prices. According to IDC, PC sales fell by another 29% in the first quarter, falling to less than 57 million units. This is much less than the 59.2 million devices sold over the same period in 2019, before Covid. Demand is down for individuals and businesses, which have equipped themselves with the rise of teleworking. The continued rise in interest rates in the United States and Europe, and its impact on inflation, is also detrimental. Among market leaders, Lenovo, Dell and Asus posted volume declines of more than 30%. HP recorded sales down 24%. Apple faced the biggest drop, with sales collapsing by more than 40% year-on-year. The Californian group could suffer from its rather high-end positioning.