Apple today announced financial results for its fiscal 2023 second quarter ended April 1, 2023. The Company posted quarterly revenue of $94.8 billion, down 3 percent year over year, and quarterly earnings per diluted share of $1.52, unchanged year over year.

Despite the challenging macroeconomics and external factors Apple was very much please to release report showcasing all time record in services and a march qarter record.

Building carbon nutral products Apple aims to invest for long term and looks to lead values.

Year-over-year business performance improved compared to the December quarter, and we generated strong operating cash flow of $28.6 billion while returning over $23 billion to shareholders during the quarter.

Board have authorised to repurchase  $90 billion shares as it has confidence in future stock values and the growth which apple projects. Apple also raised quarterly dividend for the eleventh year in a row.
Apple’s board of directors has declared a cash dividend of $0.24 per share of the Company’s common stock, an increase of 4 percent. The dividend is payable on May 18, 2023 to shareholders of record as of the close of business on May 15, 2023. The board of directors has also authorized an additional program to repurchase up to $90 billion of the Company’s common stock.

Apple reported second-fiscal quarter earnings on Thursday that beat Wall Street’s soft expectations, driven by stronger-than-anticipated iPhones sales.

Here’s how Apple’s individual product lines did versus StreetAccount consensus expectations: 

iPhone revenue: $51.33 billion vs. $48.84 billion expected 
Mac revenue: $7.17 billion vs. $7.80 billion expected 
iPad revenue: $6.67 billion vs. $6.69 billion expected 
Other Products revenue: $8.76 billion vs. $8.43 billion expected 
Services revenue: $20.91 billion vs. $20.97 billion expected 

The highlight of Apple’s report was iPhone sales, which grew from the year-ago quarter even as the broader smartphone industry contracted nearly 15% during the same time, according to an IDC estimate.