Published , by Donovan Erskine
Published , by Donovan Erskine
Apple (AAPL), the world’s biggest company, has officially shared its earnings report for Q3 2023. Holding such a title comes with big expectations, but Apple was able to just narrowly beat both revenue and EPS predictions.
Apple’s Q3 2023 earnings report was posted on its Newsroom site after the close of markets. It’s here that we learned Apple tallied $81.8 billion in revenue during the latest quarter, which is just above the $81.6 billion expectation. As for earnings per share, Apple scored $1.26 per share against a $1.19 expectation.
“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, and we saw continued strength in emerging markets thanks to robust sales of iPhone,” said Tim Cook, Apple’s CEO. “From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it.”
Apple’s (AAPL) stock moved with volatility in after-hours trading. It initially jumped on the news of Apple beating expectations, but came back down to earth once folks realized how narrow the beat was, and learned that iPhone, iPad, and Mac sales were all down in year-over-year comparisons.
It’s an interesting set of information from Apple, and we can expect to learn more about the company’s Q3 2023 performance during the forthcoming earnings call. For more news on all of the market news hitting today, Shacknews has what you need.