Apple and Amazon announce their second quarter earnings
US technology giant Apple’s revenue decreased by 1 percent annually in the April-June period, while e-commerce giant Amazon’s revenue increased by 11 percent. Apple announced its balance sheet for the April-June period. According to the statement made by the company, in the 3-month balance sheet ending on July 1, which is considered the third quarter, Apple’s revenue decreased by 1 percent compared to the same period last year, falling to $81.8 billion. The company had earned approximately $83 billion in revenue in the same period last year. Despite the decrease, the company’s revenue, which exceeded market expectations, was expected to be $81.7 billion in this period. Apple’s net profit, which was $19.4 billion in the same period last year, increased by 2.5 percent to $19.9 billion. The company’s earnings per share increased from $1.20 to $1.26 in this period. Apple achieved record services revenue iPhone sales decreased by 2 percent year-on-year to $39.7 billion in the April-June period. During the same period, iPad sales decreased by 20 percent to $5.8 billion, and Mac sales decreased by 7 percent to $6.8 billion. Apple CEO Tim Cook announced that they broke an all-time record in services revenues with more than 1 billion paid subscriptions during the balance sheet period. Cook stated that they were continuously gaining strength in emerging markets thanks to strong iPhone sales. Amazon's revenue increased US e-commerce giant Amazon also announced its balance sheet for the April-June period. Accordingly, Amazon's revenue in the second quarter of this year increased by approximately 11 percent compared to the same period last year, reaching $134.4 billion. The company's net sales were recorded as $121.2 billion in the second quarter of 2022. Amazon's net profit was $6.7 billion in the second quarter. The company reported a $2 billion loss in the same period last year. The e-commerce giant's net income per share was calculated as 65 cents in the second quarter of this year. The company lost 20 cents per share in the same period last year.