Apple Reports 1Q 2023 Results: $30.0B Profit on $117.2B Revenue Amid 'Challengin...

For the quarter, Apple posted revenue of $117.2 billion and net quarterly profit of $30.0 billion, or $1.88 per diluted share, compared to revenue of $123.9 billion and net quarterly profit of $34.6 billion, or $2.10 per diluted share, in the year-ago quarter.

Apple's revenue was down approximately 5% year-over-year, a steeper decline than had been expected by analysts as Apple grappled with iPhone supply issues in particular but which also saw declines in Mac and wearables.

Gross margin for the quarter was 43.0 percent, compared to 43.8 percent in the year-ago quarter. Apple also declared a quarterly dividend payment of $0.23 per share, payable on February 16 to shareholders of record as of February 13.

“As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever, and as always, we remain focused on the long term and are leading with our values in everything we do,” said Tim Cook, Apple’s CEO. “During the December quarter, 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.”