Shulou(Shulou.com)11/24 Report--

According to news in the morning of February 3, Beijing time, Apple today released its results for the first quarter of fiscal 2023. According to the report, Apple's first-quarter net revenue was $117.154 billion, down 5% from $123.945 billion in the same period last year, the first year-on-year decline in revenue since 2019. It also recorded the biggest quarterly revenue decline since September 2016; net profit was $29.998 billion, down 13% from $34.63 billion in the same period last year. Of this total, revenue in Greater China was $23.905 billion, down 7 per cent from $25.783 billion in the same period last year.

Tuyuan Pixabay Apple's first-quarter revenue and earnings per share failed to meet Wall Street analysts' expectations, causing its shares to fall nearly 4 per cent in after-hours trading.

Apple's board of directors announced that it will pay a cash dividend of $0.23 per share to the company's common shareholders, which will be paid on February 16, 2023 to shareholders of record as of the end of business hours on February 13, 2023.

Detailed results: for the quarter ended December 31, 2022, Apple's net profit was $29.998 billion, down 13% from $34.63 billion in the same period last year. Diluted earnings per share were $1.88, compared with $2.10 per share in the same period last year.

Apple's first-quarter operating profit was $36.016 billion, compared with $41.488 billion in the same period last year.

Apple's first-quarter net revenue was $117.154 billion, down 5 per cent from $123.945 billion in the same period last year.

Apple's first-quarter gross profit was $50.332 billion, compared with $54.243 billion in the same period last year.

Apple's first-quarter revenue and diluted earnings per share fell short of Wall Street analysts' expectations. According to Yahoo Finance, 27 analysts had expected Apple to earn an average of $1.94 per share in the first quarter, while 23 analysts had expected revenue of $121.1 billion in the first quarter.

By region: Apple's revenue in the Americas was $49.278 billion in the first quarter, compared with $51.496 billion in the same period last year

Revenue in Europe was $27.681 billion, compared with $29.749 billion in the same period last year.

Revenue in Greater China was $23.905 billion, down 7% from $25.783 billion in the same period last year.

Revenue in Japan was $6.755 billion, compared with $7.107 billion in the same period last year.

Revenue in the rest of the Asia-Pacific region was $9.535 billion, compared with $9.81 billion in the same period last year.

By product: Apple's revenue from iPhone in the first quarter was $65.775 billion, compared with $71.628 billion in the same period last year, down 8% from a year earlier, falling short of analysts' expectations. According to data provided by Refinitiv, a provider of financial market data and infrastructure, analysts had on average expected Apple's revenue from iPhone to reach $68.29 billion in the first quarter.

Revenue from Mac was $7.735 billion, compared with $10.852 billion in the same period last year, falling short of analysts' expectations. According to data provided by Refinitiv, analysts had on average expected Apple's revenue from Mac to reach $9.63 billion in the first quarter.

Revenue from iPad was $9.396 billion, compared with $7.248 billion in the same period last year, exceeding analysts' expectations. According to data provided by Refinitiv, analysts had on average expected Apple's revenue from iPad to reach $7.76 billion in the first quarter.

Revenue from wearables, household products and accessories was $13.482 billion, compared with $14.701 billion in the same period last year, falling short of analysts' expectations. Analysts had on average expected Apple's revenue from wearables, home products and accessories to reach $15.23 billion in the first quarter, according to data provided by Refinitiv.

Revenue from services was $20.766 billion, compared with $19.516 billion in the same period last year, slightly exceeding analysts' expectations. Analysts had on average expected Apple's revenue from services to reach $20.67 billion in the first quarter, according to Refinitiv.

Return on capital plan: Apple's board of directors announced that it will pay a cash dividend of $0.23 per share to the company's common shareholders, which will be paid on February 16, 2023 to shareholders of record ending business hours on February 13, 2023.

Executive comment: Apple CEO Tim Cook said: "as everyone continues to move forward in a challenging environment, we are proud to have the best product and service lineup ever. As always, we focus on the long term and are dominated by our values in everything we do. During this quarter, we achieved an important milestone and are pleased to report that we now have more than 2 billion active devices, indicating that our installation base is still growing. "

Lucas Luca Maestri, Apple's chief financial officer, said: "in terms of services, we have set a record revenue of $20.8 billion. Despite the difficult macroeconomic environment and severe supply constraints, we achieved an increase in the company's total revenue, excluding exchange rate changes. We generated $34 billion in operating cash flow during the quarter and returned more than $25 billion in cash to shareholders while continuing to invest in our long-term growth plans. "

Share price movements: Apple shares rose $5.39, or 3.71%, to close at $150.82 in regular Nasdaq trading.

Apple shares fell $5.95, or 3.94%, to $144.88 in after-hours trading as of 04:40 EDT on Thursday (05:40 Beijing time on Friday). In the past 52 weeks, Apple's highest price is $179.61 and the lowest price is $124.17.

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