Apple’s third-quarter sales and profits beat expectations. Apple today reported financial results for the third quarter of its fiscal 2023 ended July 1, 2023. The company reported quarterly revenue of $81.8 billion, down 1 percent from the previous year. prior year, and quarterly earnings per diluted share of $1.26, up 5% over the same period a year earlier.
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Gross margin for the quarter was 44.5%, compared to 43.3% in the year ago quarter.
Apple’s Board of Directors declared a cash dividend of $0.24 per share of the Company’s common stock, payable on August 17, as of the close of business on May 14, 2023.
“We are pleased to report all-time high services revenue in the June quarter, driven by more than 1 billion paid subscriptions, confirming continued strength in emerging markets thanks to robust iPhone sales,” said the CEO. of Apple, Tim Cook.
In the question session at the end of the presentation of the results, Cook expressly referred to “excellent performance” of the iPhone in markets such as China, India, Indonesia, ‘South-East Asia, Latin America, the Middle East, referring to excellent results in these geographical areas, speaking instead of a decline in the smartphone sector in general in recent quarters in the US.
“Our June quarter year-over-year performance improved over the March quarter, and our active user base reached an all-time high in every region,” said Luca Maestri, Apple’s chief financial officer. “During the quarter, we generated operating cash flow of $26.6 billion, returning more than $24 billion to shareholders during the quarter as we continue to invest in our long-term growth plans.”
Apple’s Board of Directors declared a cash dividend of $0.24 per share of the Company’s common stock. The dividend is payable on August 17, 2023 to shareholders of record as of the close of business on August 14, 2023.
