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Apple Beats Targets as Quarterly Sales Drop 3%, Services Revenue Hits Record $20.9 Billion

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Apple’s revenue declined again in the March 2023 quarter, marking its second consecutive quarterly drop in sales. But the tech giant topped Wall Street forecasts, with its services business h…

“We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,” CEO Tim Cook said in announcing the March quarter results. “We continue to invest for the long term and lead with our values, including making major progress toward building carbon neutral products and supply chains by 2030.

Apple also announced that its board authorized an additional $90 billion for share repurchases and declared a cash dividend of 24 cents per share . Next month Apple is hosting its annual Worldwide Developers Conference in Cupertino, Calif. The event, which runs June 5-9, is rumored to feature

 

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