Apple’s Q2 Revenue For 2023 Down 3% As Company Reports New Records For iPhone Sales And Services

Leading iPhone maker Apple has posted its earnings for the second quarter of 2023 and figures showed a decline of 3% YoY where it was highlighted to be $94.8 billion.

Meanwhile, the earnings per share stood unchanged when compared to the same period in 2022. On the other hand, the net profit was recorded as $24.1 billion, the company’s reports mentioned.

Apple has also outlined a new quarterly record in terms of revenue generated by iPhone sales and also a new all-time high for all services.

As far as this quarter is concerned, the tech analysts spoke about another anticipated revenue being $92.9 billion while earnings per share were $1.43. When compared to the previous year, this net income went down slightly and the same happened to be the case for revenue as well.

For those wondering about the company’s unit sales reports, it was not down for any goods or services but instead, the report showed a breakdown by each product category.

Meanwhile, the company’s CEO was seen touting the results of this new posting with a few words through his social media account and the company’s own website. He began by mentioning how pleased the firm was in terms of reporting the record high for Services as well as revenue generated through iPhone sales. He felt that the progress was immense, considering how challenging this entire quarter turned out to be.

Remember, the current financial conditions around the globe are not too great, and with an economic downturn peaking as we speak, it’s great to see any firm reporting profits and growth during such challenging and troubling times.

Apple’s goal is to carry on investing in the long term for better results and also to lead with core values intact. This would make a lot more progress in terms of developing carbon-neutral goods and services as well as supply chains by the year 2030.

A similar response was set out by the company’s CFO Luca Maestri who revealed how the YoY business performances were improving when compared to the likes of the quarter seen in December. They started to produce a long of strong results in terms of operating cash flow while trying to give back to shareholders

They’ve got a lot of confidence in the future of the company and the total value seen across shares. The board has similarly authorized more than $90 billion for such repurchases of stocks. Similarly, they’re raising the quarterly dividend for the 11th time.

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