Apple has now officially opened its books and announced results for the second fiscal quarter of 2023 (first calendar quarter of 2023).
Apple has now opened the books and published the results for the second fiscal quarter of 2023 (first calendar quarter of 2023). Side note: Apple's fiscal year starts on October 1st and ends on September 30th. Apple did not announce a sales forecast at the last quarterly earnings conference either, as the company was unable to provide a realistic estimate due to the ongoing crisis. Apple posted sales of $97.28 billion and net income of $24.1 billion, or $1.52 per share, in the last quarter, compared to sales of $97.3 billion and net income of $25 billion, or $1.52 per share, in the same quarter last year. Apple boss Tim Cook said: follows:
We are pleased that, despite the challenging macroeconomic environment, we achieved new records for service revenue and iPhone shipments in March, and that our installed base of active devices reached a new all-time high. We continue to invest for the long term and are guided by our values, including making strong progress in developing carbon-neutral products and supply chains by 2030.
Apple Q2/2023: Exceeds expectations despite difficult environment
Apple’s CFO, Luca Maestri, said:
Our financial results improved compared to the December quarter, we generated strong operating cash flow of $28.6 billion and returned more than $23 billion to our shareholders. Given our confidence in Apple's future and the value we see in our stock, our board of directors has authorized an additional $90 billion in share repurchases. We are also increasing our quarterly dividend for the eleventh consecutive year.
Gross margin for the quarter was 44.3 percent, compared to 43.7 percent in the same quarter last year. Apple's board also approved an additional $90 billion for share buybacks and approved an increased dividend payment of $0.24 per share (previously $0.23 per share). The dividend will be paid on May 18 to shareholders of record on May 15. (Photo by Bigc Studio / Bigstockphoto)
