On Thursday, May 4, Apple will disclose its financial report for the second quarter of fiscal 2023. The business reported $117.15 billion in sales and $29.99 billion in profit, a 5% decrease in revenue, and a 13% decrease in net income compared to the same quarter last year. In Q1 2023, the firm had substantial supply problems, especially hurting the iPhone 14 Pro and iPhone 14 Pro Max.
Apple CEO Tim Cook told investors that if not for supply challenges, iPhone sales would have increased, and the Apple Watch had a record number of first-time purchasers last quarter. The release of the business’s fiscal second-quarter profits comes before of WWDC 2023 when the company is slated to introduce its next major product: a mixed-reality headset.
Additional information regarding Apple’s financial performance is available on the company’s official website.