Apple Reports 2% Increase in Revenue Fueled By iPhone Sales As Concerns in China Continue

Net income grows 13% to $33.9 billion in first quarter, on revenue of $119.6 billion, ahead of Vision Pro launch on Friday

Apple Earnings
Photo illustration by TheWrap

Apple, facing persistent concerns about sluggish sales in China and nervous anticipation about the launch of its Vision Pro headset, reported Thursday that its fiscal first quarter 2024 revenue rose 2% on the strength of global iPhone sales.

The tech giant topped analysts estimates for revenue and earnings per share in the quarter, which ended on Dec. 31 and was composed of 13 weeks as opposed to the fourth quarter of 2023, which was composed of 14 weeks. After hours on Thursday, the company’s stock fell roughly 3%.

Here are the top-line results:

Net Income: $33.92 billion, up 13% from the year-ago period.

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