iPhone revenue surpasses $50 billion for fiscal Q2
May 5, 2023 - Apple’s second fiscal quarter earnings, which corresponds to the first calendar quarter of 2023, shows iPhone revenue reached a record $51.3 billion for the period.
Apple has announced financial results for its second fiscal quarter of the year, which corresponds to the first calendar quarter of 2023.
For the quarter, Apple posted revenue of $94.8 billion – a net quarterly profit of $24.1 billion, slightly down on the $25.0 billion net income in the year-ago quarter, but exceeding analysts’ expectations none the less.
The company’s Services business, which includes iCloud, Apple Music, AppleTV+ and the App Store, saw revenue hit an all-time record with earnings of $20.9 billion, while the iPhone reached a new March quarter revenue record of $51.3 billion.
However, it was a less rosy picture for some categories, with the Mac in particular seeing a significant year-on-year slump in quarterly revenue – falling from $10.4 billion to $7.2 billion.
For Apple, like other U.S. global behemoths, the strong dollar has decreased the value of revenue generated in other parts of the world.