Apple Q1’23 financial results

Sales beat expectations but were down 3% YoY, EPS beats estimates.

Andy Patrizio

Apple suffers a very minor dip in sales due to economic headwinds. International sales and services were the strongest areas, iPad and Mac the weakest. Apple announced its calendar-year Q1 (Apple fiscal-year Q2) earnings on Thursday, May 4, 2023, with revenue coming in at $94.8 billion, better than the $92.6 billion expected. Net income was $24.1 billion, or earnings per share of $1.52, a 3.3% drop over the same quarter last year but much better than the expected EPS of $1.43. It was a typical sequential Q1 drop from the fourth quarter, but it still beat analysts’ expectations on better-than-expected

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