Apple revealed its latest financial results today, this time for its fiscal year 2023 third quarter that ended on July 1, 2023. Overall revenues were $81.797 billion for the quarter, which was down slightly from $82.959 billion from the same period a year ago. This is the third quarter in a row that revenues went down from year to year.
Apple"s net income for the quarter was $19.881 billion, up slightly from $19.442 billion from the same period a year ago.
As usual, iPhone sales had the biggest revenue numbers with $39.669 billion, down from $40.665 billion from the same period a year ago. Mac PC revenues were $6.840 billion, down from $7.382 billion, and iPad revenues were $5.791 billion, down from $7.224 billion from a year ago. Apple no longer offers any specific sales unit numbers for its hardware products.
Apple"s wearables, home, and accessories division which includes its Apple Watch business, had revenues of $8.284 billion for the quarter, up slightly from $8.084 billion from the same period a year ago. The company"s services division, which includes things like the App Store, Apple Music, and Apple TV+, had the biggest gain, with revenues of $21.213 billion, up from $19.604 billion from the same period a year ago.
Indeed, Apple CEO Tim Cook made a big deal out of the Services revenue number, stating it was an "all-time revenue record" for the division, and adding that it now has "over 1 billion paid subscriptions." Luca Maestri, the chief financial officer at Apple, added that " . . . our installed base of active devices reached an all-time high in every geographic segment."
Apple is expected to announce new iPhone 15 and Apple Watch 9 devices at a press event later this year, with rumors stating it will happen on September 15. Of course, the big question is exactly when the company"s mixed reality headset, the Apple Vision Pro, will launch. The company officially revealed the Vision Pro in June, and it"s supposed to go on sale sometime in early 2024 for a starting price of $3,499.