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Apple reports fiscal Q3 2023 earnings: $19.9B of net profit on $81.8B revenue as Services revenue breaks new record

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:

  • 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
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Editor's Pick

Omar Moharram

Omar Moharram

Omar is Senior Editor at Supercharged and an Apple devotee since his early teens. He graduated with a computer engineering degree in 2022, which aids him in his technical content writing. Outside of work, he can often be found critiquing music or a film, or tinkering with a bass.

Read More

Who are we?

Supercharged is not just another news outlet. We’re a platform on a mission to offer personalized and ad-free news directly to you. Discover more of Supercharged.

Apple reports fiscal Q3 2023 earnings: $19.9B of net profit on $81.8B revenue as Services revenue breaks new record

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:

  • 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
TOPICS:
Share this Article
note icon

Did you know?

Easily add Supercharged to your Home Screen and stay informed on the go! Get instant updates and breaking news stories via push notifications directly on your iPhone and Apple Watch. Just tap the share icon, then "Add to Home Screen," and be the first to know.

Have a tip for our newsroom? Securely reach out to us and tell us what you know. Your insight and information are invaluable to the work we do. Click here.

Have a tip for our newsroom? Securely reach out to us and tell us what you know. Your insight and information are invaluable to the work we do. 

Editor's Pick

Omar Moharram

Omar Moharram

Omar is Senior Editor at Supercharged and an Apple devotee since his early teens. He graduated with a computer engineering degree in 2022, which aids him in his technical content writing. Outside of work, he can often be found critiquing music or a film, or tinkering with a bass.

Read More

Craig Federighi

Age: 63
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