Apple today announced financial results for the first quarter of its fiscal year 2023, which ended December 31, 2022. The company posted quarterly revenue of $117.2 billion, down 5% year-over-year, and quarterly earnings per diluted share of $1.88.
“We are all proud to have the best product and service line-up to date as we continue to navigate a challenging environment. We continue to align and lead our values in everything we do,” Tim said. Apple CEO Cook said in a statement: “During the December quarter, we are pleased to report that we achieved a major milestone and now have over 2 billion active devices as part of growing our installed base.”
“We set a record revenue for our services business of $20.8 billion. Despite a challenging macroeconomic environment and significant supply constraints, we grew revenue across the company on a constant currency basis. A statement: “We generated $34 billion in operating cash flow during the quarter and returned more than $25 billion to shareholders, while continuing to invest in our long-term growth plans.”
Apple’s board of directors has declared a cash dividend of $0.23 per share of the company’s common stock. Dividends will be paid on February 16, 2023 to shareholders of record as of the close of business on February 13, 2023.
Apple will offer live streaming of its first quarter 2023 earnings call on February 2, 2023 at 2:00 p.m. PT at apple.com/investor/earnings-call. This webcast will be available for replay for approximately two weeks thereafter.
• Revenue: $117.2 billion
• EPS: $1.88
iPhone: $65.775 billion
• Mac: $7.735 billion
• iPad: $9.396 trillion
• Wearables, Home & Accessories: $13.482 billion
• Services: $207.66 billion
Here’s what Wall Street expected, according to Refinitiv’s consensus forecast:
• Revenues: $121.19 billion ($123.9 billion in the 122nd quarter)
• Earnings per share: $1.94 per share vs. $2.10 in Q122
• iPhone revenue: $68.29 billion ($71.6 billion in Q122)
• Mac Revenue: $9.63 billion ($10.8 billion in Q1 2012)
• iPad revenue: $7.76 billion ($7.2 billion in Q1 2012)
• Wearables, Home & Accessories: $15.23 billion ($14.7 billion in Q1 2012)
• Services revenue: $20.67 billion ($19.5 billion in Q1 2012)
MacDailyNews takes: Apple’s biggest YOY quarterly decline since 2016.
MacDailyNews Note: As always, we’ll have Apple’s results at 1:30 PM PT / 4:30 PM ET. Afterwards, I’ll be covering his Q123 conference call with the company in a live note starting at 2pm PT/5pm ET.
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