Apple Inc. reported its financial results ending September 30, 2023, revealing a slight dip in quarterly revenue compared to the previous year but an increase in earnings per share. The quarterly revenue for the tech giant was $89.5 billion, marking a 1% decrease from the corresponding period in the previous year. However, despite this slight decline, the company’s earnings per diluted share saw a significant rise, increasing by 13% year over year to reach $1.46.
Apple’s CEO, Tim Cook, shared that the company achieved record September quarter revenue for its flagship product, the iPhone. Furthermore, the company also set an all-time revenue record in its Services sector. The record-breaking performance of the iPhone and Services sectors highlights Apple’s ability to maintain strong sales and profit margins despite the overall decrease in quarterly revenue.
“Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services,” said Tim Cook, Apple’s CEO. “We now have our strongest lineup of products ever heading into the holiday season, including the iPhone 15 lineup and our first carbon neutral Apple Watch models, a major milestone in our efforts to make all Apple products carbon neutral by 2030.”
Apple fourth quarter financial results
In addition to strong financial performance, Apple also demonstrated its commitment to environmental sustainability. The company introduced its first carbon-neutral Apple Watch models as part of its product lineup for the holiday season. Alongside the environmentally friendly watches, Apple is also set to launch the iPhone 15, which the company describes as part of its “strongest lineup of products ever.” Apple’s commitment to sustainability extends beyond individual products, with a company-wide goal to make all its products carbon neutral by 2030.
Apple’s CFO, Luca Maestri, also reported impressive figures for the company. Apple reached a new all-time high in the active installed base of devices across all its products and geographic segments. This suggests that despite the competitive tech market, Apple’s user base and product reach continue to grow.
“Our active installed base of devices has again reached a new all-time high across all products and all geographic segments, thanks to the strength of our ecosystem and unparalleled customer loyalty,” said Luca Maestri, Apple’s CFO. “During the September quarter, our business performance drove double digit EPS growth and we returned nearly $25 billion to our shareholders, while continuing to invest in our long-term growth plans.”
In terms of shareholder returns, Apple demonstrated its commitment to its investors by returning nearly $25 billion in the September quarter. This was achieved while the company continued to invest in its long-term growth plans, striking a balance between rewarding shareholders and reinvesting in the company’s future.
Furthermore, Apple’s board of directors declared a cash dividend of $0.24 per share of the company’s common stock, payable on November 16, 2023. This move further underscores Apple’s commitment to delivering value to its shareholders.
To ensure transparency and accessibility, Apple made its Q4 2023 financial results conference call available via live streaming on November 2, 2023. The webcast will be available for replay for approximately two weeks, allowing shareholders and interested parties to review the company’s performance and future plans at their convenience.
Despite the challenges posed by a slight decrease in quarterly revenue, Apple’s Q4 2023 results paint a picture of resilience and strategic growth. The company’s record-breaking iPhone and Services revenue, combined with its commitment to environmental sustainability and shareholder returns, suggest that Apple remains a formidable player in the global tech industry. As the company moves forward, it will be interesting to see how these strategies and initiatives continue to shape its financial performance and market position.
Filed Under: Technology News, Top News
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