Apple reports Q3 2023 results

Apple has unveiled its financial performance for fiscal Q3 2023.

The company reported a total revenue of $81.79 billion, marking a 1% year-over-year decrease. However, earnings-per-share came in at $1.26, while profits for the quarter reached $19.88 billion, representing a 5% year-over-year increase.

A notable highlight from Apple's earnings report is the announcement that the company has crossed a significant milestone - boasting over one billion paid subscribers. Additionally, the installed base of active devices has reached an all-time high, showcasing the brand's continued popularity and strong customer engagement.

As per the usual trend, Apple's Q3 earnings release arrives ahead of the anticipated launch of the iPhone 15 in September. During this quarter, iPhone revenue experienced a decline, with more consumers holding off on purchases in anticipation of the latest iPhone model.

Here's a summary of the Q3 2023 revenue by product category, alongside analyst estimates:

• iPhone: $39.67 billion ($39.9 billion estimated) - Slight decrease from $40.67 billion
• Mac: $6.84 billion ($6.6 billion estimated) - Decrease from $7.38 billion
• iPad: $5.79 billion ($6.4 billion estimated) - Decline from $7.22 billion
• Wearables, Home, and Accessories: $8.28 billion ($8.4 billion estimated) - Increase from $8.08 billion
• Services: $21.21 billion ($20.8 billion estimated) - Growth from $19.60 billion

The full Apple earnings report can be viewed at Apple Newsroom.