Apple announces financial results for the third quarter of 2023, total sales of $ 81.8 billion, down 1% year-on-year & more than 1 billion paid subscriptions, service sector records record high revenue

Apple has announced its financial results for the third quarter (April-June) of 2023. Apple's quarterly sales were about $ 81.8 billion (about 11.67 trillion yen), down 1% from the same period last year. And while sales of hardware products such as iPhones and iPads were down year-on-year, the services division posted record sales with more than 1 billion paid subscriptions.

Apple reports third quarter results - Apple

https://www.apple.com/newsroom/2023/08/apple-reports-third-quarter-results/

Apple (AAPL) Q3 earnings: Live updates
https://www.cnbc.com/2023/08/03/apple-earnings-live-updates.html

Apple's total net sales in the third quarter of 2023 (red frame) is $ 81.797 billion (about 11.673 trillion yen), compared with $ 82.959 billion (about 11.839 trillion yen) in the same period last year yen), down 1%. Net income was $ 19,881 million (about 2,835 billion yen), an increase of 2.3% from the same period last year.

Below is a breakdown of sales by category. Of the numbers enclosed in red frames, the left side is for the 3rd quarter of 2023 and the right side is for the 3rd quarter of 2022. iPhone sales were $ 39,669 million (about 5,658 billion yen), a decrease of 2% from the same period last year. Mac sales were 6.84 billion dollars (about 976 billion yen), down 7% year-on-year. In addition, iPad sales were $ 5,791 million (about 826 billion yen), down 20% from the same period last year.

CEO Tim Cook said at the financial results announcement, ``The American smartphone industry is in a difficult situation,'' but ``Especially in China, there seem to be many ``switchers'' that migrate from Android terminals to iPhones.

While hardware-related sales decreased year-on-year across the board, sales of wearable devices, smart homes, and accessories (Wearables, Home and Accessories) totaled $8.284 billion, about a year-on-year decrease. 2.5% increase. The Services sector was $ 21,213 million (about 3,025 billion yen), an increase of 8.2% from the same period last year.

Luca Maestri, Apple's Chief Financial Officer (CFO), said, ``We expected that overall sales would shrink in the third quarter of 2023 due to the impact of the macro economy.However, it is actually more than expected. is also doing well, and I think Apple's overall economic situation is improving.'

Cook also said, ``I'm pleased to report that we achieved record earnings in the services sector in the third quarter of 2023, thanks to over 1 billion paid subscriptions. It sold well and continued to perform well in emerging markets.'