Apple Reports Q1 2023 Revenue of $117.2B, Down 5% YoY with Earnings per Share of $1.88
Apple has announced its financial results for the first quarter of fiscal 2023, revealing a 5% year-over-year decrease in quarterly revenue, which stood at $117.2 billion. The quarterly earnings per diluted share were $1.88.Despite the challenging environment, Apple reported over 2 billion active devices in its installed base, a major milestone for the company. Apple’s CEO, Tim Cook, emphasized the company’s focus on its long-term growth plans and values.
Apple’s CFO, Luca Maestri, reported an all-time revenue record of $20.8 billion in the Services business, despite a difficult macroeconomic environment and significant supply constraints. Maestri also mentioned that the company generated $34 billion in operating cash flow and returned over $25 billion to shareholders during the quarter.
The board of directors has declared a cash dividend of $0.23 per share of the company’s common stock, which will be payable on February 16, 2023, to shareholders of record as of the close of business on February 13, 2023.
Source : apple/newsroom