Apple recently released its second fiscal quarter 2023 report. The technology giant managed to exceed expectations with the impact of strong iPhone sales. Apple CEO Tim Cook said the quarter was “better than we expected”. But Apple’s overall sales also fell for the second quarter in a row.iPhone saved
Apple managed to generate $94.8 billion in revenue and $24.1 billion in net income this quarter. Gross margin was 44.3 percent, while total revenue fell 3 percent year-on-year. The decline in net income was again around 3%. Apple’s product-based revenues are reflected in the tables as follows:- iPhone revenue: $51.33 billion
- Mac revenue: $7.17 billion
- iPad revenue: $6.67 billion
- Other Products revenue: $8.76 billion
- Services revenue: $20.91 billion
The reason why Apple did not experience the same sharp decline as its other competitors is that it managed to increase iPhone sales in the smartphone industry, which shrank by 15 percent compared to the previous quarter. iPhone revenues rose 2 percent in the quarter ended April 1, showing that parts shortages and supply chain problems over the past few years (including the iPhone factory shutdown late last year) are finally receding. “It was a pretty good quarter for iPhone, especially when you look at market statistics,” Apple CEO Tim Cook said in a statement. said.
Mac and iPad crashed
Apple’s Mac and iPad business did not go as well. The company warned last quarter that both lines of business would decline, partly due to parts shortages, but sales fell more than expected. Apple’s Mac sales fell more than 31 percent to $7.17 billion in revenue. Revenue from iPads fell nearly 13 percent to $6.67 billion.Apple’s Services business segment, which includes monthly subscriptions, revenue from the App Store, and licensing revenue from companies like Google, generated $20.9 billion, up 5.5 percent from the previous year. Apple’s wearables division, which includes headphones like the Apple Watch and AirPods, fell just 1 percent.
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