With Apple's new stores in Mumbai and Delhi humming, iPhone sales soared in Q2 2023
Apple's iPhone Set a Q2 Record Profit Share of 85%, a 73% lead over Samsung & while iPad revenue was down in Q2, Market Share was up

Apple Delivered $81.7 Billion in Revenue with iPhone sales slightly down while Services broke a new Record

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On Tuesday CNBC reported that "Apple is expected to post its third consecutive quarterly revenue decline when it reports earnings after the bell Thursday. Wall Street expects $81.7 billion in sales, which would be down about 2.3% from last year. CNBC  noted that Apple's forecast will be more important. It may provide clues as to whether global economies are set up for a "soft landing" after two years of interest rate hikes. Lastly, the report noted that Wall Street is expecting, per FactSet estimates: $81.7 Billion Revenue with the iPhone coming in at $40.2 Billion revenue.

Apple actually reported late this afternoon revenue of $81.8 billion, down 1 percent year over year, slightly better than CNBC forecast.

Tim Cook, Apple’s CEO: "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."

“Our June quarter year-over-year business performance improved from the March quarter, and our installed base of active devices reached an all-time high in every geographic segment,” said Luca Maestri, Apple’s CFO. “During the quarter, we generated very strong operating cash flow of $26 billion, returned over $24 billion to our shareholders, and continued to invest in our long-term growth plans.”

In a new report after the bell, CNBC noted that "Apple’s performance in greater China, which includes Hong Kong and Taiwan in addition to the mainland, was another highlight." Patently Apple posted a report in July that in Q2-23, Apple's year-over-year growth in China was +6.1%.

Apple’s board of directors has declared a cash dividend of $0.24 per share of the Company’s common stock. The dividend is payable on August 17, 2023 to shareholders of record as of the close of business on August 14, 2023.

FY23 Q3 Consolidated Financial Statements by Jack Purcher on Scribd

10.0X3 Quarterly Financial News


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