CUPERTINO, CALIFORNIA – Apple has unveiled its financial outcomes for the third quarter of fiscal 2023, concluding on July 1, 2023. In this period, the company recorded quarterly revenue of $81.8 billion, which represents a marginal 1 percent decline compared to the previous year. However, the earnings per diluted share for the quarter stood at $1.26, marking a notable 5 percent increase year over year.
Tim Cook, the CEO of Apple, expressed satisfaction with the results, highlighting the achievement of an all-time revenue peak in the Services sector during the June quarter. This accomplishment was driven by the noteworthy milestone of over 1 billion paid subscriptions. Cook also pointed out the company’s positive performance in emerging markets, where the strong sales of iPhones played a significant role, his words were “We are pleased to announce an unprecedented revenue record in the Services division for the June quarter, propelled by a remarkable count of over 1 billion paid subscriptions. Additionally, the robust sales of iPhones have contributed to our continued success in emerging markets.”, emphasizing Apple’s commitment to advancing its core values across various areas, from education to environmental sustainability. He emphasized their dedication to innovation that enhances customer lives while also contributing positively to the world.
Luca Maestri, the CFO of Apple, underscored the company’s performance, highlighting a positive trajectory in the year-over-year business performance when compared to the previous quarter. He also noted a significant achievement: the company’s active device user base reached an all-time high across all geographic segments, and stated “Our performance for the June quarter displayed improvement in our year-over-year business performance, building on our results from the preceding March quarter. Additionally, our active device user base has reached a pinnacle across all global segments.”
During this quarter, Apple exhibited robust financial management, generating a substantial operating cash flow amounting to $26 billion. The company also demonstrated its commitment to its shareholders by returning over $24 billion to them. Moreover, Apple continued to allocate resources toward its long-term growth strategies.
Expanding on this, Maestri provided further details, stating, “Throughout this quarter, we have achieved a robust operating cash flow, amounting to a substantial $26 billion. Our unwavering dedication to our shareholders is clearly demonstrated through our allocation of over $24 billion to them. Concurrently, our resolute commitment to long-term growth is evident in our ongoing investments.”
Demonstrating their commitment to shareholders, Apple’s board of directors has officially announced a cash dividend of $0.24 per share for the company’s common stock. This dividend distribution is slated for August 17, 2023, and will encompass shareholders who are registered as of the close of business on August 14, 2023.
In addition, Apple has revealed its plans to facilitate the live streaming of its Q3 2023 financial results conference call, which is set to kick off at 2:00 p.m. PT on August 3, 2023. Interested parties can access the live webcast at apple.com/investor/earnings-call. After the event concludes, the webcast will be available for replay for an estimated duration of approximately two weeks.