Apple reported total revenue of $117.2 billion (currently about 789.928 billion CNY), quarterly net income of $30 billion (currently about 202.2 billion CNY) and diluted earnings per share of $1.88 for the first quarter of fiscal year 2023 (Q4 2022).
For comparison, Apple’s fiscal 1Q2022 (4Q2021) results showed total revenue of $123.9 billion ($6.7 billion difference), quarterly net income of $34.6 billion ($4.6 billion difference), and diluted earnings per share of $2.10.
Diluted earnings per share is calculated by adjusting net income attributable to common shareholders for the period and the weighted average number of common shares outstanding, respectively, based on basic earnings per share, assuming that all dilutive potential common shares outstanding have been converted to common shares. A new term “dilutive potential common stock” has emerged here, referring to potential common stock that is assumed to be converted to common stock in the period that would reduce earnings per share.
Apple’s revenue declined about 5 percent year-over-year, more than analysts had expected. The iPhone business had the largest impact on Apple’s revenue in the quarter, while the Mac and wearable devices businesses also declined.
Gross margin for the quarter was 43.0 percent, compared to 43.8 percent in the same quarter last year. Apple also declared a quarterly dividend of $0.23 per share, payable on February 16 to shareholders of record as of February 13.
Tim Cook, Apple’s chief executive officer, said.
"There are huge challenges throughout the industry and I am proud that we will serve our customers with the best lineup of products and services ever. As always, we are focused on long-term growth and moving forward with everything we do guided by our values. I'd also like to announce that we hit a new milestone this fiscal quarter and now have more than 2 billion active devices worldwide."
