Mac: Apple announces quarterly results, reports revenue of $89.5 billion

Apple announced financial results for its fiscal 2023 fourth quarter ended September 30, 2023. The company posted quarterly revenue of $89.5 billion, down 1 percent year over year, and quarterly earnings per diluted share of $1.46, up 13 percent year over year.
“Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services,” said Tim Cook, Apple’s CEO.“We now have our strongest lineup of products ever heading into the holiday season, including the iPhone 15 lineup and our first carbon neutral Apple Watch models, a major milestone in our efforts to make all Apple products carbon neutral by 2030.”

iPhone revenue up, Mac and iPad down

During the call with investors, Apple also revealed the category wise revenue break up. According to Cook, the iPhone 15 series has started off much better than the iPhone 14 series. Overall, iPhone revenue in the quarter stood at $43.8 billion, which was up from the corresponding quarter last year.
The revenue from Mac had declined considerable. Apple said that Mac revenue was $7.6 billion, which was 34% less than it was in the same quarter in 2022. The revenue from iPad was also down but not as bad as the Mac. Apple’s revenue from the iPad was $6.4 billion. In 2023, Apple hasn’t launched any new iPad, which is one of the reasons why the revenue was down.
“Our active installed base of devices has again reached a new all-time high across all products and all geographic segments, thanks to the strength of our ecosystem and unparalleled customer loyalty,” said Luca Maestri, Apple’s CFO. “During the September quarter, our business performance drove double digit EPS growth and we returned nearly $25 billion to our shareholders, while continuing to invest in our long-term growth plans.”