Apple’s Q2 2023 Earnings: A Look at the Company’s Record-Breaking Performance

Apple


Apple has announced its Q2 2023 earnings, and while the company’s quarterly revenue was $94.8 billion, down 3% YoY, earnings per share were unchanged at $1.52 YoY, and the net profit for the quarter was $24.16 billion [1][2].

Despite the drop in revenue, the iPhone segment performed well, setting a new record for the March quarter, while the services segment reached a new all-time high [1][2]. The company generated $51.33 billion in iPhone sales, exceeding analysts’ expected $48.84 billion, Mac sales brought in $7.17 billion, below the anticipated $7.80 billion, and iPad revenue hit $6.67 billion, in line with estimates.

Wearables, home and accessories segment generated $8.76 billion, above the estimated $8.43 billion, and services brought in $20.91 billion, slightly below analysts’ forecasts of $20.97 billion [1]. Even though the net income was down from $25.01 billion in Q2 2022, Apple’s earnings per share and iPhone sales have exceeded analysts’ projected figures [1][2].