Apple Inc. reported on Thursday that its revenue for the fourth quarter of fiscal 2023 stood at $89.5 billion, beating estimates of $89.28 billion. The figure also represents a 1% drop compared with the similar quarter a year earlier.
For the three months to September 30, 2023, the Cupertino-based tech giant posted net income of $22.96 billion or $1.46 per diluted share. While net sales in Greater China declined to $15 billion, the firm managed to increase the figure in the American market year-on-year to $40 billion. By category, Apple posted increases in iPhone and Services, with net sales of $43 billion and $22 billion, respectively. Mac sales plummeted from $11 billion in Q4 2022 to $7 billion in the current three-month period.
"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," Tim Cook, Apple's CEO, commented.
Apple fell slightly after the release of the report by 0.80% to sell for $176.12.
