Apple Announces Fiscal 2023 Third Quarter Results, Services Revenue Hits New Record

CUPERTINO, CALIFORNIA (VSNewsNetwork.com) - Apple has released its financial results for the fiscal 2023 third quarter ending July 1, 2023. The tech giant posted quarterly revenue of $81.8 billion, reflecting a 1 percent decrease year over year, but reported an increase of 5 percent in quarterly earnings per diluted share at $1.26. Services revenue reached a new all-time high, driven by over 1 billion paid subscriptions.

“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,” commented Tim Cook, Apple’s CEO. The company's CFO, Luca Maestri, added, “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.”

Apple’s board of directors declared a cash dividend of $0.24 per share of the Company’s common stock, payable on August 17, 2023, to shareholders of record as of August 14, 2023. A live streaming of Apple’s Q3 2023 financial results conference call will be available at 2:00 p.m. PT on August 3, 2023, at apple.com/investor/earnings-call, where it will also be available for replay for approximately two weeks thereafter.

Source: Apple