Apple Inc. (NASDAQ: AAPL) reported its fiscal third-quarter earnings on 3 August 2023, revealing a slight dip in revenue but a rise in earnings per share. The tech giant posted quarterly revenue of $81.8 billion, marking a 1% decrease year over year, while earnings per diluted share rose by 5% to $1.26.
Despite the slight dip in overall revenue, Apple CEO Tim Cook expressed satisfaction with the company’s performance, particularly in the services sector:
“We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over 1 billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone. From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it.“
Apple’s CFO, Luca Maestri, noted that the company’s business performance improved from the March quarter. The installed base of active devices reached an all-time high in every geographic segment. Apple generated a strong operating cash flow of $26 billion during the quarter, returned over $24 billion to its shareholders, and continued to invest in its long-term growth plans.
The company’s board of directors declared a cash dividend of $0.24 per share of the company’s common stock, payable on August 17, 2023, to shareholders of record as of the close of business on August 14, 2023.
Featured Image Credit: Apple
