The world’s biggest technology companies have started to present their revenue reports as we enter the last quarter of the year. We have already seen reports from Microsoft, Google and Intel. Now Apple has shared its revenue for the fourth quarter of 2023. However, the decline in company revenues for four quarters attracted attention.
Apple’s last quarter revenue was 89.5 billion dollars
Apple announced its financial results for the fourth fiscal quarter of 2023. According to the report, the company announced a loss of $0.05 per share on revenues of $89.5 billion. This decline in revenues was driven by significantly lower Mac and iPad sales.
According to the company’s statement, earnings for this period decreased by 1 percent compared to the same quarter last year. The only bright spot for Apple was the iPhone and Services categories. Smartphone sales rose 3 percent to $ 43.8 billion, thanks to the two-week success of the iPhone 15 series.
Services revenue, which includes subscription services such as the App Store, Apple Music and Apple TV+, rose 16 percent to $22.3 billion. This category also represents an important market, such as movies, which the company has invested heavily in recent years.
However, Mac sales fell 34 percent to $7.6 billion due to the economic recession, while iPad revenues fell 10 percent to $6.4 billion. Wearable products such as Apple Watch lost 3 percent to $ 9.3 billion.
Apple CEO Tim Cook stated that iPhone sales broke a record in the last quarter. However, the ongoing competition in the Chinese market, especially with Huawei, seems to have managed to put pressure on the overall market. Let’s see how Apple will respond to this competition.
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