Apple has announced a drop in revenue despite the tech giant reporting record iPhone sales for the March quarter.

In the quarter ended 1 April, revenue was down by three per cent to $94.8 billion.

But the strong iPhone sales will be welcomed by Apple, which saw previous quarterly results fall short of expectations due to lower sales and supply chain disruption.

At the time, the tech giant recorded its largest quarterly revenue drop in nearly seven years, generating $117.2 billion – a 5.49 per cent decline year-over-year.

“We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,” said Tim Cook, Apple’s chief executive, commenting on the company's latest quarterly results. “We continue to invest for the long term and lead with our values, including making major progress toward building carbon neutral products and supply chains by 2030.”

Apple recently revealed it had reached a major milestone, announcing that there are now over two billion Apple devices in active use.

This figure factors in Mac desktops and laptops along with iPad tablets and the company’s ubiquitous smartphone.

Apple previously said that it had 1.8 billion active devices at the beginning of 2022 following record sales the year before.

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