Apple Inc. today announced that it will release its second quarter earnings for fiscal year 2023, which ended in March 2022, after the U.S. stock market closes on May 4, EDT. Following the release, Apple will host an earnings call to explain the results and answer questions from analysts.
The conference call will be broadcast live on Apple’s investor relations channel on the company’s website.
In the first quarter of fiscal 2023, Apple’s sales declined in all product categories except services and iPad. Specifically, Apple’s total net sales for the first quarter were $117.154 billion, down 5 percent from the same period last year, and net income was $29.998 billion, down 13 percent year-over-year. Net sales from the iPhone business were $65.775 billion, down 8 percent from $71.628 billion in the same period a year earlier.
Mac revenue was $7.74 billion, compared with market expectations of $9.72 billion, a 29 percent decline from the previous year. Net sales for the wearable, home and accessories business were $13.482 billion in the first quarter, down 8 percent from $14.701 billion in the prior-year quarter. In addition, iPad revenue was $9.40 billion, compared with market expectations of $7.78 billion, a 30 percent increase from the prior-year quarter, and services revenue was $20.77 billion, compared with market expectations of $20.47 billion, a 6.4 percent increase from the prior-year quarter.
