Apple announces Q3 results with 1 pct decline in revenue

Apple on Thursday announced financial results for its fiscal 2023 third quarter ending on July 1, with quarterly revenue of 81.8 billion US dollars, down 1 percent year over year, and quarterly earnings per diluted share of 1.26 dollars, up 5 percent year over year.

Its net income for the quarter increased to 19.88 billion dollars from 19.44 billion dollars a year ago, and sales of iPhones amounted to 39.67 billion dollars, down from 40.67 billion dollars year on year.

The company's sales of Wearables, Home and Accessories products increased slightly to 8.28 billion dollars from 8.08 billion dollars a year ago.

Its sales of Service increased to 21.21 billion dollars from 19.60 billion dollars a year ago.

Apple's net sales in the Greater China region increased to 15.76 billion dollars from 14.60 billion dollars a year ago, according to Apple's financial statement.

"We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over 1 billion paid subscriptions," said Tim Cook, Apple's CEO.

"Our June quarter year-over-year business performance improved from the March quarter," said Luca Maestri, Apple's CFO. "During the quarter, we generated very strong operating cash flow of 26 billion dollars, returned over 24 billion dollars to our shareholders, and continued to invest in our long-term growth plans."

Apple's board of directors has declared a cash dividend of 0.24 dollars per share of the company's common stock.