Apple announced its fiscal first-quarter 2023 earnings. This is compared to $123.9 billion and a net quarterly profit of $34.10 billion in the same quarter the previous year.
Apple's revenue dropped by roughly 5% year over year, despite analysts' expectations. Apple is also struggling with iPhone supply issues, as well as seeing declines in Mac and wearables.
"We're proud to have the greatest assortment of products and services ever," said Apple's CEO, Tim Cook.
"We achieved a significant milestone during the December quarter," says the company, who are ecstatic to announce that we now have more than 2 billion active devices as part of our growing installed base.
Apple's CFO stated, "We generated $34 billion in operating cash flow and returned over $25 billion to shareholders in the quarter."
Apple's board of directors has declared a cash dividend of $0.23 per share of the company's common stock, which will be payable on February 16, 2023, to shareholders of record as of the close of business on February 13, 2023.
Apple has once again refused to release any guidance for the current quarter, which concludes in March, as they have done for the previous several consecutive quarters.