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Apple Reports 3Q 2023 Results: $19.9B Profit on $81.8B Revenue

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Apple today announced financial results for its third fiscal quarter of 2023, which corresponds to the second calendar quarter of the year.

aapl-3q23-line.jpg

For the quarter, Apple posted revenue of $81.8 billion and net quarterly profit of $19.9 billion, or $1.26 per diluted share, compared to revenue of $83.0 billion and net quarterly profit of $19.4 billion, or $1.20 per diluted share, in the year-ago quarter.

Gross margin for the quarter was 44.5 percent, compared to 43.3 percent in the year-ago quarter. Apple also declared a quarterly dividend payment of $0.24 per share, payable on August 17 to shareholders of record as of August 14.
"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," said Tim Cook, Apple's CEO. "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."
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As has been the case for over three years now, Apple is once again not issuing guidance for the current quarter ending in September.

aapl-3q23-pie.jpg

Apple will provide live streaming of its fiscal Q3 2023 financial results conference call at 2:00 p.m. Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Conference call recap ahead...
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Article Link: Apple Reports 3Q 2023 Results: $19.9B Profit on $81.8B Revenue
 
Article Link
https://www.macrumors.com/2023/08/03/apple-3q-2023-results/
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sw1tcher

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How Apple did versus Refinitiv estimates:
  • EPS: $1.26 vs. $1.19 estimated
  • Revenue: $81.80B vs. $81.69B estimated, down 1% year-over-year
  • iPhone revenue: $39.67B vs. $39.91B estimated, down 2% year-over-year
  • Mac revenue: $6.84B vs. $6.62B estimated, down 7% year-over-year
  • iPad revenue: $5.79B vs. $6.41B estimated, down 20% year-over-year
  • Other Products revenue: $8.28B vs. $8.39B estimated, up 2% year-over-year
  • Services revenue: $21.21B vs. $20.76B estimated, up 8% year-over-year
  • Gross margin: 44.5% vs. 44.2% estimated


Apple also declared a quarterly dividend payment of $0.24 per share, payable on August 17 to shareholders of record as of August 14.
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Apple now has $166.5 billion in cash on hand, up fractionally from the $166.33 billion they reported having last quarter, and they're still only paying a $0.24 per share dividend? Raise the dividend, or give a one-time large dividend payout like Costco does.
 
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SilvioInfante

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GMShadow said:
2020-2021 pulled forward sales that now aren't going to happen for a few years. Add in a bad economy and people will just make do with their existing devices a little longer.
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Combine all of those factors together....and it's still $82 BILLION in revenue. Needless to say, nothing is slowing Apple. Nothing. I wish something would, for the betterment of all, but nothing is.
 
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