Strong iPhone sales aren't enough to offset a big downturn in Mac shipments

Apple had its second "bad" quarter in a row. Bad, of course, is a relative term — the company's revenues declined again, but Apple is still making a positively massive amount of money. Specifically, the iPhone and Services categories, both of which have been Apple's biggest money-makers for years now, saw revenue gains year-over-year. But this wasn't enough to offset declines everywhere else: the Mac, iPad, and Wearables / Home / Accessories divisions all shrank compared to this time a year ago. As such, Apple's overall revenue dropped a modest three percent year-over-year to $94.8 billion, while net income of $24.2 billion was down less than one percentage point. Like I said, not exactly a bad quarter, but given that the company's sales and profits almost always are up, it's worth noting when they aren't.