June 9, 2023
iphones APPLE

Apple’s Q2 financial report announced, iPhone 14 sales are better than expected

Driven by the sales performance of the iPhone 14, Apple’s second-quarter earnings announced on May 4 exceeded Wall Street’s weak expectations, but overall sales continued to decline.

Apple announced its financial report for the second fiscal quarter of fiscal year 2023 ending April 1, 2023 after the U.S. stock market closed on Thursday. Quarterly revenue was US$94.8 billion, a decrease of 3% compared to the same period, but both revenue and profit were higher than Wall Street expectations. Among them, the iPhone went against the trend of the sluggish consumer electronics market. Although the sales of the entire smartphone industry shrank by nearly 15% over the same period, iPhone sales continued to rise, and the decline in wearable device sales was lower than analysts expected.

overall sale apple iphone14 q2


However, except for the iPhone, Apple’s other hardware product revenues were lower than expected:

  • iPhone earnings: $51.33 billion vs. $48.84 billion expected
  • Mac earnings: $7.17 billion vs. $7.8 billion expected
  • iPad earnings: $6.67 billion vs. $6.69 billion expected
  • Other product income: $8.76 billion vs. $8.43 billion expected
  • service income: $20.91 billion vs. $20.97 billion expected

Mac sales fell sharply by 31.3%, exceeding Apple’s forecast of a 25% decline; iPad sales fell by 16.8%, and wearable devices (Apple Watch, AirPods, etc.) fell slightly by 0.6%. Analysts expect the data to continue to face a severe environment.

Apple expects the June quarter year-over-year earnings performance to be similar to the March quarter, assuming the macroeconomic outlook does not worsen than the currently forecast quarter.

(Source of the first picture:pixabay

Ewen Eagle

I am the founder of Urbantechstory, a Technology based blog. where you find all kinds of trending technology, gaming news, and much more.

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