Apple presented its financial results for the first quarter of 2023 — the company's revenue was $94,8 billion (-3% compared to the same period in 2022). The amount of quarterly earnings per share is $1,52, and is unchanged compared to the previous year.
However, the company showed record sales of iPhones in the first three months of 2023 and record sales of services such as App Store/Apple Music/Apple Pay/iCloud. The drop in revenue compared to last year was mainly due to insufficiently high sales of Macs and iPads.
However, revenue from iPhone sales was $51,3 billion (+2%) compared to the previous year, and in some emerging markets, such as India, Indonesia and Turkey, it doubled sales year-on-year.
Apple services now account for 975 million paid subscriptions (+150 million). The report also showed more than 2 billion active app installs.
Tim Cook promised the further continuation of investments, including in carbon-neutral products and supply chains at least until 2030. Out of $28,6 billion in operating income, $23 billion was allocated to shareholder payments. The increase in quarterly dividends is the eleventh year in a row.
Apple's board of directors declared a dividend of 24 cents per share (+4 cents) and approved an additional common stock repurchase program of up to $90 billion.
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