Apple’s financials proceed to be in an ever-so-slight droop. Just as we noticed the final two quarters, the firm suffered minor declines in revenue in its fiscal Q3 2023 — but these are minor blips for a firm that’s nonetheless raking in absurd quantities of cash each quarter.
As has typically been the case, revenue that Apple made out of its Services phase (issues like paid iCloud plans, Apple Music, AppleCare, the App Store and quite a few different choices) hit an all-time excessive of $21.2 billion. That’s the firm’s second-largest product class behind the iPhone, and it grew eight % year-over-year. But iPhone, Mac and iPad revenue all declined in comparison with a 12 months in the past, the identical because it did final quarter.
In the case of the iPhone, that decline was slight: revenue of $39.7 billion in the quarter was down about two % in comparison with a 12 months in the past. iPad (down 19.8 %) and Mac (down 7.3 %) gross sales declined more considerably. But given the undeniable fact that Apple hasn’t refreshed any iPad {hardware} since final fall, it is not too stunning to see a drop there. Wearables (like the Apple Watch and AirPods) and equipment had been one other vivid spot, as revenues grew a little over two %, the solely product class moreover Services to take action.
Overall, revenues of $81.8 billion represented a much less than two % drop 12 months over 12 months, whereas earnings really elevated about two % to $19.9 billion.
As regular, Apple is holding a name with CEO Tim Cook at 5PM ET, and there is more to debate this quarter than regular. Beyond Apple’s regular product classes, that is the first earnings since the formidable and wildly costly Vision Pro headset was introduced, so it is seemingly buyers might wish to hear about how that new product is progressing. And there’s the ever-present speak of potential AI-related tasks hanging out in the background, too. We’ll be updating this publish with any particulars Cook shares on the name.
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…. to be continued
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