On February 2, 2023, Apple announced the financial results for its fiscal 2023 first quarter ended December 31, 2022. The company reported revenue of USD 117.2 billion for the December quarter and set “all-time revenue” records in a number of markets. Including Canada, Indonesia, Mexico, Spain, Turkey and Vietnam, along with quarterly records in Brazil and India. However, as a result of the challenging environment, the USD 117.2 billion revenue was down 5 per cent year-over-year, from nearly USD 124 billion in December 2021.
Tim Cook, Apple’s CEO said that- “As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever. And as always, we remain focused on the long term and are leading with our values in everything we do.” Cook also revealed that the company achieved a major milestone during the December quarter. As a result of which, they now have more than 2 billion active devices as part of their growing installed base.
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Apple’s Financial Results: Details
Luca Maestri, Apple’s CFO said “We set an all-time revenue record of $20.8 billion in our Services business. And in spite of a difficult macroeconomic environment and significant supply constraints. We grew total company revenue on a constant currency basis.” According to the CFO, the company generated $34 billion in operating cash flow. And returned over $25 billion to shareholders during the quarter. While also continuing to invest in their long-term growth plans.
Moreover, Apple’s board of directors announced a cash dividend of $0.23 per share of the Company’s common stock. The dividend is payable on February 16, 2023, to shareholders of record as of the close of business on February 13, 2023. The webcast of Apple’s Q1 2023 financial results conference call held on February 2, 2023, will be available at apple.com/investor/earnings-call for replay for approximately two weeks thereafter.
Sneha Bhabar
An introvert who loves learning and experimenting with new things.