Apple reports second quarter results

San Francisco, USA | Xinhua | Apple on Thursday announced financial results for its fiscal 2023 second quarter ending April 1, with a quarterly revenue of 94.84 billion U.S. dollars, down 3 percent year over year.

The company posted its quarterly earnings per diluted share of 1.52 dollars, unchanged year over year.

Its net income for the quarter decreased to 24.16 billion dollars from 25.01 billion dollars a year ago.

The company’s service sales reached 20.91 billion dollars from 19.82 billion dollars year on year.

Sales of iPhone amounted to 51.33 billion dollars from 50.57 billion dollars a year ago.

Its sales of Wearables, Home and Accessories products dropped slightly to 8.76 billion dollars from 8.81 billion dollars a year ago.

Apple’s net sales in the Greater China region decreased to 17.81 billion dollars from 18.34 billion dollars a year ago, according to Apple’s financial statement.

“We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,” said Tim Cook, Apple’s CEO.

“We continue to invest for the long term and lead with our values, including making major progress toward building carbon neutral products and supply chains by 2030,” he added.

“Our year-over-year business performance improved compared to the December quarter, and we generated strong operating cash flow of 28.6 billion dollars while returning over 23 billion dollars to shareholders during the quarter,” said Luca Maestri, Apple’s CFO.

Apple’s board of directors has declared a cash dividend of 0.24 dollar per share of the company’s common stock, an increase of 4 percent. The dividend is payable on May 18, 2023 to shareholders of record as of the close of business on May 15, 2022.

The board of directors has also authorized an additional 90 billion dollars for share repurchase.