Apple has posted revenues of $52.9 billion for the three months ending March 31st.

The figure is up 5% year-on-year, though down from Q1 revenues of $78.3 billion for the three months ending December 31st.

The significant quarter-on-quarter drop is to be expected however following the announcement and subsequent launch of the new iPhone in September 2016.

Apple’s strongest regions were the Americas and Europe, generating combined revenues of nearly $34 billion.

It’s struggling in Greater China however. Revenues dropped 34% from Q1 and 14% year-on-year to $10.7 billion.

Unit sales down

Despite overall revenues on the rise year-on-year, iPhone and iPad sales fell compared to Q2 2016.

More than 50.7 million iPhones were sold, compared to just over 51 million mobile devices sold in the same quarter the previous year, a small drop of 1%.

It sold 8.9 million iPads during Q2 2017, down 13% year-on-year. Mac sales however were up 4% year-on-year to 4.2 million.

“We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus,” said Apple CEO Tim Cook.

“We’ve seen great customer response to both models of the new iPhone 7 (PRODUCT)RED Special Edition and we’re thrilled with the strong momentum of our Services business, with our highest revenue ever for a 13-week quarter.”