On August 3rd at 4:30 PM ET, Apple printed their Q3 2023 earnings,
Here's the breakdown.
Apple reported an EPS of $1.26, exceeding the estimated value of $1.20, and their total revenue for the quarter was $81.80 billion, slightly higher than the estimated value of $81.55 billion.
Products Revenue: The revenue generated from Apple's products amounted to $60.58 billion, which was slightly below the estimated value of $60.67 billion.
iPhone Revenue: iPhone sales revenue was $39.678 billion, just below the estimated value of $39.88 billion.
Mac Revenue: Apple's Mac division generated revenue of $6.84 billion, surpassing the estimated value of $6.378 billion.
iPad Revenue: iPad sales revenue was $5.79 billion, falling short of the estimated value of $6.33 billion.
Wearables, Home & Accessories Revenue: This category generated revenue of $8.288 billion, slightly below the estimated value of $8.38 billion.
Greater China Revenue: Apple's revenue from the Greater China region amounted to $15.76 billion, exceeding the estimated value of $14.59 billion.
Apple's operating cash flow for the quarter was $26 billion, which was higher than the estimated value of $22.94 billion.
Apple's total operating expenses were $13.42 billion, slightly below the estimated value of $13.5 billion.
Overall, Apple's Q3 2023 earnings show a mixed performance. While they managed to surpass EPS expectations and performed better than estimated in the Greater China region and Mac sales, they fell slightly short of revenue estimates for products like the iPhone, iPad, and Wearables, Home & Accessories. However, the strong operating cash flow is a positive sign, indicating the company's ability to generate cash from its operations. As a whole, the earnings report can be considered relatively good, but some areas show room for improvement.
