Apple Reports 5% Revenue Decline

<p><strong>CUPERTINO <&sol;strong>&&num;8212&semi; Apple announced financial results for its fiscal 2023 first quarter ended December 31&comma; 2022&period; The Company posted quarterly revenue of &dollar;117&period;2 billion&comma; down 5 percent year over year&comma; and quarterly earnings per diluted share of &dollar;1&period;88&period;<&sol;p>&NewLine;<p>Sales of the iPhone were &dollar;65&period;7 billion in the quarter&comma; down from &dollar;71&period;6 billion a year earlier&period; Mac sales saw a steeper decline with sales of &dollar;7&period;7 billion&comma; down from &dollar;10&period;8 billion a year ago&period; The iPad actually saw an increase from a year ago with &dollar;9&period;3 billion in sales&comma; up from &dollar;7&period;2 billion in the same quarter last year&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;As we all continue to navigate a challenging environment&comma; we are proud to have our best lineup of products and services ever&comma; and as always&comma; we remain focused on the long term and are leading with our values in everything we do&comma;” said Tim Cook&comma; Apple’s CEO&period; &OpenCurlyDoubleQuote;During the December quarter&comma; we achieved a major milestone and are excited to report that we now have more than 2 billion active devices as part of our growing installed base&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We set an all-time revenue record of &dollar;20&period;8 billion in our Services business&comma; and in spite of a difficult macroeconomic environment and significant supply constraints&comma; we grew total company revenue on a constant currency basis&comma;” said Luca Maestri&comma; Apple’s CFO&period; &OpenCurlyDoubleQuote;We generated &dollar;34 billion in operating cash flow and returned over &dollar;25 billion to shareholders during the quarter while continuing to invest in our long-term growth plans&period;”<&sol;p>&NewLine;<p>Apple’s board of directors has declared a cash dividend of &dollar;0&period;23 per share of the Company’s common stock&period; The dividend is payable on February 16&comma; 2023 to shareholders of record as of the close of business on February 13&comma; 2023&period;<&sol;p>&NewLine;