Apple iPhone revenues decline 13.2% during the fiscal first quarter

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Shares of Apple soared 5.4% or $8.32 in after-hours trading to $154.68 following the company’s release of fiscal first quarter earnings. While Apple is no longer reporting the number of iPhone units sold in the period, the tech giant announced that revenue from iPhone sales declined to $51.9 billion from $59.8 billion during the same quarter a year ago. That works out to a 13.2% decline. Apple says that it now has 1.4 billion active devices, an all-time high.
Services revenue hit an all-time quarterly high at $10.9 billion, up 19% year-over-year. The most profitable …

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