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Apple reports Q4 results with revenue drop, net income growth

Published : 03 Nov 2023, 02:47

  DF News Desk
People try new Apple products after their launch in Cupertino, California, the United States, Sept. 12, 2023. File Photo: Xinhua.

Apple on Thursday announced financial results for its fiscal 2023 fourth quarter ending Sept. 30, 2023, with revenue of 89.5 billion U.S. dollars, down by 1 percent year on year, reported Xinhua.

Its quarterly net income increased to 22.96 billion dollars from 20.72 billion dollars a year ago.

The company also posted quarterly earnings per diluted share (EPS) of 1.46 dollars, up 13 percent year over year.

Apple's iPhone sales amounted to 43.81 billion dollars, compared with 42.63 billion dollars a year ago.

Mac sales decreased to 7.61 billion dollars from 11.51 billion dollars a year ago.

The company's services revenue reached 22.31 billion dollars from 19.19 billion dollars year on year.

Apple's net sales in the Greater China region decreased to 15.08 billion dollars from 15.47 billion dollars a year ago, according to the financial statement.

"Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services," said Apple's CEO Tim Cook.

"We now have our strongest lineup of products ever heading into the holiday season, including the iPhone 15 lineup and our first carbon-neutral Apple Watch models, a major milestone in our efforts to make all Apple products carbon-neutral by 2030," he added.

"Our active installed base of devices has again reached a new all-time high across all products and all geographic segments," said Apple's CFO Luca Maestri. "During the September quarter, our business performance drove double-digit EPS growth and we returned nearly 25 billion dollars to our shareholders while continuing 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. The dividend is payable on Nov. 16, 2023, to shareholders of record as of the close of business on Nov. 13, 2023.