Apple today officially announced its financial results for the third fiscal quarter of 2023, covering the second calendar quarter of 2023, spanning April, May, and June.
Apple reported $81.80 billion in revenue with a net profit of $19.9 billion, equal to earnings of $1.26 per diluted share. Compared to the same quarter a year ago, Apple posted $83.0 billion in revenue and $19.4 billion in net profit, equal to earnings of $1.20 per diluted share. Total gross margin of hardware and services stood at 44.5%, compared to 43.3% in the same quarter a year ago.
Apple reports a revenue breakdown by product category instead of unit sales. Revenue breakdown per category for fiscal Q3 2023 compared to Q3 2022 is as follows:
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- iPhone: $39.67 billion vs. $40.6 billion
- Mac: $6.84 billion vs. $7.38 billion
- iPad: $5.79 billion vs. $7.2 billion
- Wearables, Home and Accessories: $8.28 billion vs. $8.08 billion
- Services: $21.21 billion vs. $19.6 billion
Apple’s board of directors authorized a cash dividend payment of $0.24 per share, payable on August 17 to shareholders of record as of August 14. Once again, Apple is not providing an earnings forecast for the current fiscal Q4 2023.
Apple CEO Tim Cook and CFO Luca Maestri had the following to say regarding the company’s performance:
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. 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 CEO Tim Cook
“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. 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 CFO Luca Maestri
