Apple's Q1 saved by record iPhone sales more By- Techknowledge on May 5, 2023
Apple reported its fiscal quarter results, and they are superior to examiners anticipated. Between January and March 2023, Cupertino generated $94.8 billion in revenue, a 3 percent decrease from the previous year's $97.2 billion.
For the first three months of the year, the company saw record sales of iPhones and all-time highs for services like the App Store, Apple Music, Apple Pay, and iCloud.
- Also Read-iPhone 15 Pro with button less design or not
- Also Read-Apple first OLED iPad
- Also Read-Apple Mixed Reality Headset Launch
The disappointing sales of iPads and Macs accounted for the majority of the YoY decline. Fortunately for Apple, iPhone revenue increased by 2% year over year to $51.3 billion, and it doubled annually in some developed and emerging markets like India, Indonesia, and Turkey.
There are now 975 million paid subscriptions to Apple services, which is 150 million more than in 2022. Additionally, the number of active devices installed has consistently exceeded 2 billion, according to the report.
Tim Cook made it clear that the company will continue to invest over the long term, citing "major progress towards building carbon neutral products and supply chains by 2030" as examples. Apple paid $23 billion out of the $28.6 billion working income to investors, and for the 11th year straight, the quarterly profit has been expanded, the Chief added.
