Apple Posts $94.8 Billion In Revenue For Q2 2023 Earnings, Beating Expectations Thanks To Soaring iPhone Sales, But Mac & iPad Business Suffer
A slowing global economy has hammered Samsung’s operating profit, but Apple once again beat expectations as it generated $94.8 billion for its Q2 2023 earnings, beating analysts’ expectations of $92.96 billion thanks to increased iPhone sales. Unfortunately, the technology giant’s Mac and iPad sales could have been better, according to the latest figures, so let us check them out in thorough detail.
The $94.8 billion in revenue was slightly lower than the $97.3 billion the company generated during the same quarter a year ago, with profit during that time being $25 billion, as opposed to $24.1 billion for Q2 2023. However, despite inflation having rocked the finances of millions and putting a dent in their purchasing power, Apple managed to stave off the storm thanks to improved iPhone sales and Services setting a new all-time record.
Apple CEO Tim Cook was pleased with the company’s financial performance, despite the macroeconomic challenges that have painted a gloomy outlook. The Chief Executive also reiterated the company’s commitment to achieving carbon neutrality by 2023.
“We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high. We continue to invest for the long term and lead with our values, including making major progress toward building carbon neutral products and supply chains by 2030.”
As always, the iPhone’s $51.3 billion revenue brought in the lion’s share of Apple’s $94.8 billion earnings, up from $50.6 billion in Q2 2022, but a surprising entrant here was Services, bringing in an impressive $20.9 billion revenue for the March quarter. In fact, Services
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