Apple: Q2 2023 financial results

Apple has released its financial report for the second quarter of the 2023 fiscal year. The company’s revenue amounted to $94.84 billion, which is 3% lower than the previous year. Net income decreased by 3% to $24.16 billion, but exceeded analysts’ expectations.

Revenue from iPhone sales increased by 2% to $51.33 billion, exceeding market expectations. Apple’s service sales earned the company $20.91 billion, also exceeding forecasts.

Apple Q2 2023 financial results

The company’s operating profit was $28.32 billion, which is 5% lower than the previous year. Diluted earnings per share remained unchanged at $1.52.

After the report was published, Apple’s stock rose by 2.49% to $169.92 in NASDAQ after-hours trading.

Apple’s board of directors approved a $90 billion share repurchase program and increased dividends.

Apple CEO Tim Cook stated that the company does not plan to conduct significant layoffs, despite an expected 3% decline in revenue in the current quarter.

Financial Results Table for Apple Q2 2023 Fiscal Year:

MetricValueYoY Change
Revenue$94.84B↓ -3%
Operating Profit$28.32B↓ -5%
Net Income$24.16B↓ -3%


In summary, Q2 2023 was not Apple’s best quarter, as both revenue and operating profit decreased. However, net income exceeded analysts’ expectations, and revenue from iPhone sales and Apple’s services exceeded market forecasts. Apple also launched a $90 billion share buyback program and increased dividends. Nevertheless, with an expected 3% decrease in revenue for the current quarter, a decision to buy Apple stock in 2023 should be based on further research and analysis.

You may also like...

Leave a Reply