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Apple earns 3.4% less between January and March and will repurchase more than 81,000 million shares

iPhone sales grow and service revenues set a new record.

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Apple earns 3.4% less between January and March and will repurchase more than 81,000 million shares

iPhone sales grow and service revenues set a new record


Apple registered a net profit of 24,160 million dollars (21,871 million euros) in the first three months of 2023, the second fiscal quarter for the Cupertino company, which represents a decrease of 3.4% compared to the result recorded in the same period last year, as announced by the multinational, which will launch a share repurchase plan of 90,000 million dollars (81,475 million euros).

Apple's net sales between January and March reached 94,836 million dollars (85,852 million euros), which represents a drop of 2.5% compared to the same quarter of the previous year, after the drop of 4.5 % of revenue from product sales, up to 73,929 million dollars (66,926 million euros), while revenue from services reached a new record of 20,907 million dollars (18,927 million euros), 5.5% above from the data of the previous year.

Specifically, Apple sales fell 7.6% in America, to 37,784 million dollars (34,205 million euros), but increased 2.8% in Europe, where they totaled 23,945 million dollars (21,677 million euros). , while in China they fell by 2.9%, to 17,812 million dollars (16,125 million euros).

Between January and March, iPhone sales reported 51,334 million dollars (46,471 million euros) to Apple, 1.5% more than a year earlier, while Mac sales totaled 7,168 million dollars (6,489 million euros). ), 31.3% less, and those of iPad a total of 6,670 million dollars (6,038 million euros), 12.8% less.

In turn, the accessories business registered a slight drop of 0.5% year-on-year in the quarter, to 8,757 million dollars (8,374 million euros), while the multinational's service revenues increased by 5.5%, up to 20,907 million dollars (18,927 million euros).

"We are pleased to report an all-time service record and a record quarterly March for iPhone despite the challenging macroeconomic environment, and our installed base of active devices reaching an all-time high," said Tim Cook, Apple's CEO.

In this way, in the first six months of its fiscal year, Apple obtained a net profit of 54,158 million dollars (49,028 million euros), 9.2% less than in the first half of the previous year, while its sales totaled 211,990 million dollars (191,909 million euros), 4.2% less.

Apple's board of directors declared a cash dividend of $0.24 per share, an increase of 4%, due on May 18. Additionally, the board of directors also authorized an additional program to repurchase up to $90 billion of common stock in the company.

"Given our confidence in the future of Apple and the value we see in our shares, our Board has authorized an additional $90 billion for share repurchases. We are also increasing our quarterly dividend for the 11th consecutive year," said Luca Maestri, director Apple financial.