Apple has reported its second straight quarter of declining revenue, but strong iPhone sales in emerging markets, including India, led to the growth of the company's sales. Apple's revenue for the quarter was $94.8 billion, which was down 3 percent from the year-earlier period. Net income dropped 3% year-over-year to $24.2 billion. Apple exceeded analyst expectations of $92.9 billion in sales and $22.6 billion in net income for its fiscal second quarter. Apple CFO Luca Maestri said that the company was experiencing a difficult environment for consumer demand, as reflected in declining Mac and iPad sales, but the iPhone did particularly well in developing markets.
