Apple Posts Q2 2023 Results →

As always, Jason has a bunch of charts up over at Six Colors:

Apple announced its latest quarterly results on Thursday. The company posted $94.8 billion in revenue, down slightly from the year-ago quarter but—at least to my eyes—not down as much as we might have expected.

Mac revenue was, as expected, down 31 percent to $7.2 billion—the lowest quarter of Mac revenue since 2020. iPad was down 13 percent to $6.7 billion, the lowest iPad revenue quarter since 2020. iPhone was up 2 percent to $51.3 billion, which given the downward trend elsewhere was pretty impressive—it was a Q2 record for iPhone revenue.

Services revenue soared to an all-time record of $20.9 billion, up 5 percent. Wearables was down by one percent, to $8.8 billion.

The iPhone sold better than I thought it might, but given that the entire PC industry is down, the Mac and iPad’s numbers aren’t surprising. I think these numbers say less about Apple than they do the economy in general, and tech specifically.