Apple's FQ1 2023 quarterly results: $117.2 billion in revenue

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Curious about Apple's quarterly figures? The published figures of FQ1 2023 show how much revenue was made with iPhones, iPads, Macs, services and more.

Gonny van der Zwaag | iCulture.nl – 3 February 2023, 7:30 whatsappfacebooktwittertelegramlinkedinmailprint

Apple has released its latest quarterly earnings. The press release states that sales were $171.2 billion and records were broken in all major product groups. Still, Apple performed below analysts' expectations. According to Tim Cook and CFO Luca Maestri, it was related to economic uncertainties and supply problems in the Chinese factories. You can see it, the iPhone is down $6 billion, and that probably has nothing to do with a drop in demand, but rather problems building up enough inventory. The iPhone 14 Pro in particular was affected by this, but it is also a bit disappointing with the Mac and wearables. Both men are also optimistic about the coming quarters: supply chain problems have largely been resolved.

Reported revenue of $117.2 billion is down from $123.9 billion in the same quarter last year. The share price of Apple therefore suddenly fell to $ 144, just after the announcement of the figures. Moments later, it recovered to $150, only to fall back to $146.

Here are the numbers:

  • Quarterly revenue: $117.2 billion (was: $123.9 billion, -5.4%)
  • Sales iPhones: $65.8 billion (was: $71.6 billion)
  • Mac sales: $7.7 billion (was: $10.9 billion)
  • iPad sales: $9 .4 billion (was: $7.2 billion)
  • Wearables, home and accessories revenue: $13.5 billion (was: $14.7 billion)
  • Service revenue: $20.8 billion (was: $19.5 billion)

In brackets are the figures for FQ1 2022, so exactly one year ago.

Would you like to know what was said afterwards during the conference call? We've listed all the highlights from the FQ4 2022 quarterly results for you, so that you know which topics are important to Apple.

See also

Here are 8 highlights from the FQ1 2023 quarterly results

The FQ1 2023 quarterly results are in and that means we can dig deep into the statements of CEO Tim Cook and CFO Luca Maestri. Which interesting statements should you know and what can be concluded from the figures?

Quarterly figures FQ1 2023 in graphs

The graphs below show the development in recent quarters.

CEO Tim Cook:

As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever, and as always, we remain focused on the long term and are leading with our values ​​in everything we do. During the December quarter, we achieved a major milestone and are excited to report that we now have more than 2 billion active devices as part of our growing installed base.

CFO Luca Maestri:

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We set an all-time revenue record of $20.8 billion in our Services business, and in spite of a difficult macroeconomic environment and significant supply constraints, we grew total company revenue on a constant currency basis. We generated $34 billion in operating cash flow and returned over $25 billion to shareholders during the quarter while continuing to invest in our long-term growth plans.

Interesting facts from the conference call

Tonight at 23:00 Dutch time you can listen to a conference call, in which CEO Tim Cook and CFO Luca Maestri answer questions from analysts. While there are regular hints about new products, we don't expect any truly groundbreaking announcements to be made. We will discuss larger announcements in a separate article.