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Home » Apple Q1 revenue down 5% year over year

Apple Q1 revenue down 5% year over year

Apple Q1 revenue

Apple has announced its Q1 financial results and its revenue is down 5% year over year. The company had revenue of $117.2 billion and earnings per diluted share of $1.88.

Whilst revenue was down overall for the quarter, Apple revealed that they had record revenue in their Services business of $20.8 billion.

“As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever, and as always, we remain focused on the long term and are leading with our values in everything we do,” said Tim Cook, Apple’s CEO. “During the December quarter, we achieved a major milestone and are excited to report that we now have more than 2 billion active devices as part of our growing installed base.”

“We set an all-time revenue record of $20.8 billion in our Services business, and in spite of a difficult macroeconomic environment and significant supply constraints, we grew total company revenue on a constant currency basis,” said Luca Maestri, Apple’s CFO. “We generated $34 billion in operating cash flow and returned over $25 billion to shareholders during the quarter while continuing to invest in our long-term growth plans.”

You can see the full Apple Q1 financial results and revenue details over at Apple’s website at the link below.

Source Apple

Image Credit: Chris Nagahama

Filed Under: Apple, Technology News

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