Apple Reports First Quarter Results

Apple today announced financial results for its fiscal 2023 first quarter ended December 31, 2022. The company reported quarterly revenue of $117.2 billion, a decrease of 5 percent year over year. Diluted earnings per share were $1.88.

“We are pleased to report that Apple achieved a quarterly revenue record of $117.2 billion,” said Tim Cook, Apple’s CEO. “We are proud of our teams’ efforts to deliver innovative products and services that help our customers do more of what they love.”

“Despite a challenging macroeconomic environment, we achieved significant milestones this quarter,” said Luca Maestri, Apple’s CFO. “We generated strong operating cash flow of $34 billion and returned over $25 billion to shareholders through our capital return program.”

The company provided an outlook for the second fiscal quarter ending March 25, 2023, expecting revenue to be in the range of $63.5 billion to $67.5 billion.