Apple’s iPhone, Services revenue grew while iPad and Mac sales dipped in the fourth quarter

Apple has announced the financial results for its fiscal 2023 fourth quarter that ended September 30, 2023. And it’s good news and bad news.

The company posted quarterly revenue of $89.5 billion, down 1% year-over year-and quarterly earnings per diluted share of $1.46, up 13% year over year.

The iPhone revenue has grown from US$42.6 billion in quarter four of 2022 to $43.8 billion in quarter four of 2023. Revenue from the iPad was $6.43 billion, down from $7.17 billion in the year-ago quarter, while Mac revenue was $7.61 billion, year-on-year from $11.5 billion. Apple Services brought in $22.3 billion (a record), while wearables (Apple Watch, AirPods, etc.) tallied $9.3 billion, down from $9.7 billion in the year-ago quarter. 

“Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services,” says 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.”

“Our active installed base of devices has again reached a new all-time high across all products and all geographic segments, thanks to the strength of our ecosystem and unparalleled customer loyalty,” adds Chief Financial Officer Luca Maestri. “During the September quarter, our business performance drove double digit EPS growth and we returned nearly $25 billion 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 per share of the company’s common stock. The dividend is payable on November 16, 2023 to shareholders of record as of the close of business on November 13, 2023.