Apple reports second-quarter results

CUPERTINO, CALIFORNIA Apple today announced financial results for its fiscal 2023 second quarter ended 1 April 2023. The Company posted quarterly revenue of US$94.8 billion, down 3 per cent year over year, and quarterly earnings per diluted share of US$1.52, unchanged year over year.

“We are pleased to report an all-time record in Services and a March-quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,” said Tim Cook, Apple’s CEO. “We continue to invest for the long term and lead with our values, including making major progress toward building carbon-neutral products and supply chains by 2030.”

“Our year-over-year business performance improved compared to the December quarter, and we generated strong operating cash flow of US$28.6 billion while returning over US$23 billion to shareholders during the quarter,” said Luca Maestri, Apple’s CFO. “Given our confidence in Apple’s future and the value we see in our stock, our Board has authorised an additional US$90 billion for share repurchases. We are also raising our quarterly dividend for the eleventh year in a row.”

Apple’s board of directors has declared a cash dividend of US$0.24 per share of the Company’s common stock, an increase of 4 per cent. The dividend is payable on 18 May 2023 to shareholders of record as of the close of business on 15 May 2023 (PDT). The board of directors has also authorised an additional program to repurchase up to US$90 billion of the Company’s common stock.

Apple will provide live streaming of its Q2 2023 financial results conference call beginning at 7:00 am AEST on 5 May 2023 at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.