Apple Announces Q2 2023 Results: $24.1 Billion in Profit on $94.8 Billion in Revenue, New March Quarter Record for iPhone Revenue

apple today announcement financial results for its second fiscal quarter of 2023, which is the first calendar quarter of the year.

For the quarter, Apple reported revenue of $94.8 billion and quarterly net income of $24.1 billion, or $1.52 per diluted share, compared with revenue of $97.3 billion and a quarterly net income of $25.0 billion, or $1.52 per diluted share, in the quarter a year ago.

Apple set a new all-time high for services revenue at $20.9 billion and a new March quarter record for iPhone revenue at $51.3 billion, but the Mac in particular saw a significant year-over-year drop in quarterly revenue, from $10.4 billion to $7.2 billion.

Gross margin for the quarter was 44.3%, compared to 43.7% in the prior year quarter. Apple’s board also authorized an additional $90 billion for stock buybacks and declared an increased dividend payment of $0.24 per share, up from $0.23 per share. The dividend is payable on May 18 to shareholders of record on May 15.

“We are delighted to report an all-time high in Services and a March quarter record for iPhone despite the challenging macro environment, and to have our installed base of active devices hitting an all-time high,” said Apple CEO Tim Cook. “We continue to invest for the long term and be at the forefront of our values, including making major strides towards creating carbon-neutral products and supply chains by 2030.”

As has been the case for three years now, Apple is again not releasing guidance for the current quarter ending in June.

Apple will provide live broadcast its second quarter 2023 financial results conference call at 2:00 p.m. PT, and MacRumors will update this story with coverage of highlights from the conference call.

Conference call starts at 2:00 p.m. PT – No need to refresh

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