Apple releases Q2 financial results, sees a dip in quarterly revenue

Apple has released its second-quarter financial results for 2023 with quarterly revenue of USD 81.8 billion, down 1% year over year.

Moreover, Tim Cook highlighted that Apple has actually seen an all-time revenue record in Services during the quarter with over 1 billion paid subscriptions and USD 21.2 billion in revenue.

What’s more is that despite revenue being slightly down, they actually saw earnings per diluted share up 5% at USD 1.26 and a net income of USD 19.8 billion.

Although iPhone, iPad, and Mac sales saw a slump compared to the previous quarter, it was seen most apparently amongst iPhones with rumors of an upcoming iPhone 15 launch coming soon.

India also became a leading market for Apple ever since opening their first stores in the country last April with Tim Cook saying that its revenue in India growing in double digits.