Apple beat estimates for its fiscal Q2 2023, but the results released late Thursday were decidedly uneven.
iPhone sales, services, and emerging markets were the quarter’s high spots, but Mac and iPad sales declined, and wearables seemed flat. Looking ahead, Apple officials predict a slight decline as long as the economic situation doesn’t deteriorate.
Apple beats expectations, but revenue falls
First, the numbers: Apple posted quarterly revenue of $94.8 billion, down 2.5% year over year with profits of $24.2 billion and earnings per share of $1.52.
This was ahead of analyst expectations of $93 billion in revenue and $22.6 billion in profits. (The company noted out that if currency rates had remained constant, it would have grown revenues by 3%.)
