Friday, August 4th 2023
Apple Reports Third Quarter Results, Revenue Down 1% YoY
Apple today announced financial results for its fiscal 2023 third quarter ended July 1, 2023. The Company posted quarterly revenue of $81.8 billion, down 1 percent year over year, and quarterly earnings per diluted share of $1.26, up 5 percent year over year.
"We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over 1 billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone," said Tim Cook, Apple's CEO. "From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it."
"Our June quarter year-over-year business performance improved from the March quarter, and our installed base of active devices reached an all-time high in every geographic segment," said Luca Maestri, Apple's CFO. "During the quarter, we generated very strong operating cash flow of $26 billion, returned over $24 billion to our shareholders, and continued to invest in our long-term growth plans."
Apple's board of directors has declared a cash dividend of $0.24 per share of the Company's common stock. The dividend is payable on August 17, 2023 to shareholders of record as of the close of business on August 14, 2023.
Apple will provide live streaming of its Q3 2023 financial results conference call beginning at 2:00 p.m. PT on August 3, 2023 at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.
Source:
Apple
"We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over 1 billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone," said Tim Cook, Apple's CEO. "From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it."
Apple's board of directors has declared a cash dividend of $0.24 per share of the Company's common stock. The dividend is payable on August 17, 2023 to shareholders of record as of the close of business on August 14, 2023.
Apple will provide live streaming of its Q3 2023 financial results conference call beginning at 2:00 p.m. PT on August 3, 2023 at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.
13 Comments on Apple Reports Third Quarter Results, Revenue Down 1% YoY
j/k :roll:
But seriously, even though I don't currently own or use any of their products, I AM eagerly awaiting yet another large dividend check in 2 weeks, oh yea :)
Those were dark days when sites like Engadget had to actually add code to their website to allow users to hide Apple stories because many couldn’t emotionally handle reading Apple related stories.
I mean, I challenge anyone to convince me that a 4 or 5 years old iPhone is worst than the latest, and shiniest....
We need better education in this world, otherwise those callous companies will become richer and richer on the expense of stupidity.
Probably some serious downside possible in all the mega caps if and when a serious downcycle happens. Eating and paying rent > Need new phone ?
But for what it's worth, the iPhone XR got a lower resolution LCD screen that doesn't get as bright, a worse battery life, a worse camera, and less QoL that are tied to the hardware. a 5 years uppgrade cycle is nothing to be ashamed about.
I really don't see many people care about this space anymore, not like it was 5+ years ago. These are appliances now. Apples sales are stagnating and others like Qualcomm are outright collapsing (-25% chip sales, -52% revenue). Goes to show that innovation is really not about your screen or your camera, or how fast your CPU is.
They're going to need to do a lot better than that to get people to go back to frequent upgrade cycles. These are 5 year phones now, with replacement more about battery life than anything else.