Zacks
0
All posts from Zacks
Zacks in Our Research. Your Success.,

Apple Q2 Earnings In-Depth: China Sales Slump

Apple AAPL just released its second-quarter fiscal 2016 earnings data, and as always, the investment world is buzzing. One of the most important segments of the report is the company’s sales in the Greater China region.

Based on revenue, China is Apple’s second largest market behind the Americas. Apple has been able to maneuver well in the region over the years, and it recently launched Apple Pay in China two months ago.

Recently, however, Apple has hit a bit of a rough patch in China. Last week, Chinese regulators banned some of the company’s digital services such as iBooks and iTunes Movies. The Chinese government is known to be reluctant in allowing any outside services that directly compete with the country’s domestic offerings.

According to Apple’s latest earnings report, sales in China came in at $12.486 billion for the quarter. This compares to $18.373 billion in the previous quarter, representing a 32% drop. This is also a 26% fall from the same quarter last year.

 

 

Read more about Apple’s second-quarter report here: Apple (AAPL) Misses Q2 Earnings, Revs on Weaker iPhone Sales

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 DaysClick to get this free report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
APPLE INC (AAPL): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research