Apple Finds Strength in India as Overall Sales Fall for Second Straight Quarter

Apple reported its second straight quarter of declining revenue but said iPhone sales surged due to strong demand in emerging markets, a sign of resilience as the tech giant continues to face economic uncertainty.

This is the third time in a decade that the iPhone maker has posted back-to-back quarters of falling revenue. The tech giant’s revenue for the three months ended April 1 was $94.8 billion, down 3% from the year-earlier period. Net income dropped 3% year-over-year to $24.2 billion. Apple exceeded analyst expectations, according to FactSet, of $92.9 billion in sales and $22.6 billion in net income for its fiscal second quarter.