Apple announces that iPhone revenue set a record

Apple announces that iPhone revenue set a record،

There is no longer any question about whether the public likes the iPhone 15 series. Apple reported its fourth quarter fiscal results today, which includes the September release of the latest iPhone models, as smartphone revenue set an all-time record for the quarter, which includes the launch of many earlier iPhone lines. For the three months, Apple generated $43.81 billion in iPhone revenue, an increase of 2.8% from the $42.36 billion in iPhone revenue during the same quarter. from last year.

For fiscal 2023, the iPhone grossed $200.58 billion, down 2.4% from the $205.49 billion the smartphone generated in fiscal 2022. may be the number that worries investors, but let’s take action. of stock following the publication of this report at a later date.

Apple’s second-largest business segment sets new all-time record for quarterly revenue

Apple’s second segment set an all-time revenue record. Services brought in $22.31 billion during the fiscal fourth quarter, a healthy 16.3% increase. For fiscal 2023, Services brought in $85.20 billion, 9% more than the $78.13 billion the unit took in in fiscal 2022. There is no For so long, Apple had set a goal of reaching $50 billion in annual sales for the Services unit. .

App Store Part of Record Services Unit - Apple Says iPhone Revenue Sets Record

The App Store is part of the record services unit

Sales of the iPad tablet series decreased by 10.2%, from $7.17 billion in the fourth fiscal quarter of 2022 to $6.44 billion in the fourth fiscal quarter of this year. iPad’s annual gross in fiscal 2023 was $28.30 billion, down 3.4% from $29.29 billion in fiscal 2022. The end of the pandemic has reduced demand for tablets such as the iPad, with many adults no longer working from home and children returning to school. At the height of the COVID crisis, many relied on this device for work and play.

The Wearables, Home and Accessories division includes two of Apple’s most popular products: Apple Watch and AirPods. That division had revenue of $9.32 billion during this year’s fiscal fourth quarter, 3.4 percent less than the $9.65 billion the unit generated during the same quarter of last year. Full-year revenue for this segment was $39.85 billion, down 3.4% from the $41.24 billion reported for fiscal 2022.

In the July-September period, sales in the Americas increased slightly to $40.12 billion from $39.81 billion last year. Sales declined year-over-year in all other regions, including Europe, Greater China, Japan and the rest of Asia Pacific. The only region that saw higher revenue for the entire fiscal year was the latter, with a slight gain from last year’s $29.38 billion to this year’s $29.62 billion. .

Apple CEO Tim Cook said: “Today, Apple is pleased to announce record September quarter revenue for iPhone and record revenue for Services. iPhone15 and our first carbon-neutral Apple Watch models, a major milestone in our efforts to make all Apple products carbon neutral by 2030.”

Overall revenue for the quarter was $89.50 billion, down from the $90.15 billion Apple reported last year. For the full fiscal year 2023, Apple’s revenue fell 2.8% to $383.29 billion, compared to the $394.33 billion reported for fiscal year 2022. Net income for the fourth fiscal quarter of 2023 was $22.96 billion ($1.47 per share), representing a nice 10.8% increase from $20.72 billion in 2023. last year ($1.29 per share). Net income for the full fiscal year 2023 was $97 billion ($6.16 per share), compared to Apple’s net profit of $99.80 billion ($6.15) for the fiscal year. 2022.

The report led sellers to dump Apple shares after hours.

If you’re wondering how Apple could have lower net income for fiscal 2023 but post higher earnings per share, the answer is that the company had fewer shares outstanding this year thanks to share buybacks.

Luca Maestri, Apple’s Chief Financial Officer, said: “Our active installed base of devices once again reached a new record across all products and geographies, driven by the strength of our ecosystem and unprecedented loyalty. of our customers. During the September quarter, our business performance delivered double-digit EPS growth and we returned nearly $25 billion to our shareholders, while continuing to invest in our long-term growth plans. »

Despite the strong numbers generated by the iPhone and Services unit, Apple shares fell in after-hours trading following the report’s release. After rising $3.60 or 2.07% today to $177.57 in regular trading, Apple shares plunged $6.22 or 3.50% to $171.35 after the Business hours.