This Thursday (03/08), Apple presented the financial report for the third fiscal quarter of 2023 (Q3 FY 2023), a period that corresponded to the second calendar quarter of 2023, covering the months of April to June. While waiting for the iPhone 15, Americans reduced demand in the quarter, leaving China to keep everything stable.
(April to June 2023) Q3 FY 2023
(April to June 2023) Difference Revenue US$ 82.959 billion US$ 81.797 billion – 1.4% Profit US$ 19.442 billion US$ 19.881 billion + 2.26% What Apple just released this Thursday (03/08) was the key financial data for the three months ending July 1, 2023. Uncle Laguna wonders when the company's accounting will include the missing day to coincide with the calendar quarter (I know). In any case, this period was Apple's third fiscal quarter (Q3), which is almost always the weakest: people in civilization already hold back on only buying new releases, normally available in September (Q4). Based on the numbers released, we can see that Apple actually made an average of 218.47 million dollars daily in the 13 weeks that make up the published period, grossly collecting something around US$898.87 million per day. It is a daily profit “slightly” greater than that of the equivalent period of 2022, great, but revenue was basically stable, falling 1.4% compared to that period last year. Let's see how much each major Apple product line grossed: APPLE REVENUE SUMMARY Period → Revenue
Q3 FY 2022 Revenue
Q3 FY 2023 difference
about
Q3 FY 2022 iPhone $40.665 billion $39.669 billion – 2.45% Mac $7.382 billion $6.84 billion – 7.34% iPad $7.224 billion $5.791 billion – 19.84% wearables and accessories US$ 8.084 billion US$ 8.284 billion + 2.47% subscriptions US$ 19.604 billion US$ 21.213 billion + 8.21% Revenue US$ 82.959 billion US$ 81.797 billion – 1.4% The revenue from Apple's smartphone line had small drop, but this segment still accounted for 48.5% of global revenue. It is interesting to note that the drop in demand for the iPhone ends up affecting companies like Qualcomm, supplier of the modem, an important component of that premium line. The quarter's revenue was saved by the increase in revenue from subscriptions to Apple of Cupertino's services. Subscriptions emerged as Apple's second highest revenue segment globally in the third fiscal quarter of 2023 and corresponded to 25.93% of global revenue.
China stops Apple from falling in Asia
APPLE RECIPES IN ASIA Period → Recipe
Q3 FY 2022 Revenue
Q3 FY 2023 difference
about
Q3 FY 2022 Mainland China US$14.604 billion US$15.758 billion + 7.9% Japan US$5.446 billion US$4.821 billion – 11.48% remaining mainland US$6.15 billion US$5.63 billion – 8, 46%
TOTAL:
$26.20 billion $26.21 billion 0% global share 31.58% 32.04% + 1.46% Mainland China alone accounted for 19.26% of Apple's global revenue in Q1 FY 2023 In relation to the equivalent period of the previous year, the Chinese made Apple raise 1.1 billion dollars more. The Europeans, US$ 1 billion. China and Europe simply held the US$ 2.1 billion raised less than us Americans. Yes, the lowest demand for the iPhone during the quarter fell on the Americas because, although the percentage drop of 5.57% is relatively small, in absolute numbers it corresponded to more than three times the drop in Japan, for example. As the US$3 trillion Apple no longer discloses unit sales data for its products, much less how much they are selling in each region of the planet, we can only say that Apple is doing very well only in China and Europe. And that's just deducting from the collection. According to the financial report released by Apple, the company has US$166.54 billion in cash. A slight increase of US$210 million compared to the first calendar quarter of 2023 (Q2 FY 2023). It seems like a lot, but the Cupertino Apple has already accumulated 179.31 billion dollars in Q3 FY 2022. Sources: 9 to 5 Mac, Bloomberg and CNBC.
