Apple shares slide after it reports decreased revenue for iPhone and other hardware

Shares of Apple fell 4.8% Friday aft the institution reported little year-over-year gross for its flagship products successful its third 4th net report.

Apple said revenue for its iPhone, Mac and iPad lines was down from the twelvemonth before. Overall income fell 1% twelvemonth implicit year, the institution reported.

Still, Apple bushed estimates connected net per share, which came successful astatine $1.26 compared to the $1.19 analysts had expected, according to Refinitiv. Revenue was besides somewhat higher than estimates, astatine $81.8 cardinal compared to $81.69 cardinal expected.

During the company's net telephone Thursday, Apple's banal dipped little erstwhile CFO Luca Maestri told analysts they expected akin income results successful the pursuing quarter. But Maestri added that helium expects iPhone income to bash amended than the 2% diminution successful the June quarter, and that Apple's services part should spot an adjacent higher maturation complaint successful the pursuing quarter.

—CNBC's Kif Leswing contributed to this report.

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