Apple today announced results for its first fiscal quarter of 2023, which covers October, November and December of 2022. Despite a 5 percent decline in revenue compared to the same period last year, the company said a record number of people bought an Apple Watch for the first time in the first quarter of 2023.
Nearly two-thirds of customers who bought an Apple Watch in the last quarter were first-time buyers, Apple CEO Tim Cook said on a conference call with investors. Apple introduced three new Apple Watch models last year: the Apple Watch Series 8, the Apple Watch Ultra, and the more affordable second-generation Apple Watch SE.
Despite that, Apple’s sales in the wearables, home and accessories categories fell 8 percent year-over-year in the fiscal first quarter. The company said the numbers were caused by a challenging macro environment and the category includes products like the Apple Watch, AirPods and HomePod.
But there was some other good news for Apple, which also announced during an investor call that it had reached the milestone of 2 billion active devices, as well as record revenue from the services category.
Apple’s fiscal first-quarter revenue fell 5 percent year-over-year, Apple’s biggest quarterly revenue decline since 2016.
