The quarterly figures FQ1 2023 are in and that means that we can once again 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? 
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Highlights quarterly results FQ1 2023
Apple always releases a press release about the latest quarterly results, but it only contains the numbers and vague statements about how “challenging” it all was and how great Apple has done. What comes next is often a lot more interesting: in the conference call with Apple's CEO and CFO, analysts can ask questions about all kinds of things. And while Tim Cook and Luca Maestri try to avoid as many difficult questions as possible, there is still plenty to read between the lines. We have selected the most interesting facts for you.
#1 More than 2 billion active devices
A bright spot in the quarterly figures is that there are now 2 billion Apple devices in active use. This includes the iPhone, iPad, Mac, Apple Watch and other products. Last year in January there were still 1.8 billion. The 2 billion milestone was achieved in the December quarter and is mainly due to the lure of Android users and users of other smartphone brands. In addition, there were many people who bought an Apple Watch for the first time. For further growth, Apple is trying to recruit people who are not yet actively using an Apple device. With the iPhone, the growth opportunities are somewhat more limited, since everyone who wants an iPhone has one by now.
#2 Fired from Apple? Only as a last resort
Many tech companies are currently announcing layoffs. For example, Google, Amazon and Meta have announced that they have fired thousands of employees. That won't happen anytime soon with Apple. The company has been less active in recent months with hiring new staff and now has to show fewer people the door. Speaking to the Wall Street Journal, CEO Tim Cook said layoffs are “the last” what Apple will do and that it will only happen if it really has to. Cook also admitted that Apple has made adjustments to spending and hiring policies due to economic conditions. This means that more attention is paid to costs. However, there are also business units that are still hiring new staff. Apple would also invest less money in projects that have yet to prove themselves, such as AR and VR, compared to other companies. Apple can also limit the workforce in a simple way: by not replacing people who leave with a new employee. This became clear again yesterday, when it was announced that the head of industrial design will not be replaced.
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Apple not looking for successor for outgoing head of industrial design: complete role expires
Apple has decided not to find a successor for the current VP Industrial Design, who will leave soon. This cancels the entire role. Jony Ive previously held this role within Apple.
#3 iPhone sales would have grown, if…
Apple posted $6 billion less revenue from iPhones during the past quarter. That would seem like a dramatic development, were it not for a simple explanation. Apple's suppliers simply failed to meet demand, resulting in fewer sales. Cook therefore indicated that there would have been sales growth compared to Q1 2022, if only enough iPhone 14 Pros had been in stock. There has been a major shortage of devices in recent months. According to Cook, the market share of the iPhone worldwide has grown in the past quarter, despite the shortages. The stock problems have been resolved and the iPhone 14 Pro (Max) is now available in the short term.
#4 More than 935 million paid subscriptions
Apple's services have become a regular source of income for Apple – and sales continue to grow every quarter. Again: Apple announced that there are now 935 million paid subscriptions. This was 900 million in the December quarter. All subscriptions count, including those for apps via the App Store and own services such as Apple Music. Subscriber numbers rose rapidly during the pandemic, but then leveled off as people returned to their day jobs. Throughout 2022, the number of subscriptions has increased by 150 million. In terms of revenue, a record $20.8 billion was booked.
#5 Apple Pay Coming ‘soon’
Apple Pay Later was announced during WWDC 2022 as one of the features of iOS 16. It allows people to spread the payment of their purchases through the Wallet app. It only works if you make purchases via Apple Pay. The function was expected to become available as early as the end of 2022, but that did not happen. It's now coming in 2023, as Cook says it's “soon” starts. A beta test is already underway among Apple employees. It may be in iOS 16.4 that will be released in the spring. According to Bloomberg, there has been a significant delay due to technical challenges. Unfortunately, it is of no use to us in Europe, because the function will only be available in the US.
#6 Higher prices? People will pay anyway
When asked if the average higher selling price of Apple products can be sustained in the current market environment, Cook replied that people are willing to “stretch” to buy the best possible. The iPhone has become so important to people that a higher price doesn't really have an impact, says Cook.
#7 Manufacturing in the US Doesn't Have to Be More Expensive Analysts were curious to see if parts manufactured in the US become more expensive, such as chips at TSMC's upcoming plant in Arizona. According to Cook, that's not necessarily the case. “We don't know what the impact will be at this point, but we're all set to become TSMC's largest customer in Arizona,” said Cook. “We are proud to participate.”
#8 Next Quarter Outlook
Apple did not provide a revenue estimate for the upcoming March quarter, but did provide some guidance on what to expect. CFO Luca Maestri says sales will be similar to the December quarter. Services and iPhone will grow, while Mac and iPad will drop double-digit compared to last year. This would be related to macroeconomic headwinds and the fact that the release dates are different this year.
You can read all quarterly figures for FQ1 2023 in a separate article.
See also 
Apple's quarterly figures FQ1 2023: $ 117.2 billion in revenue
Also 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.