Apple (AAPL) Revenue — Quarter Ended Apr 1, 2023
Revenue declined compared to both the prior quarter and the same quarter last year. The decrease was driven by lower product sales, while services revenue showed a modest increase.
Key takeaway
Quarter ended Apr 1, 2023 · FY2023 Q2
Revenue declined compared to both the prior quarter and the same quarter last year. The decrease was driven by lower product sales, while services revenue showed a modest increase.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$94.8B
Revenue reported for this quarter.
Quarter-over-quarter
-19.1%
Change from the immediately preceding quarter.
Year-over-year
-2.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$385.1B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 25, 2022 | $83B | +1.9% |
| Sep 24, 2022 | $90.1B | +8.1% |
| Dec 31, 2022 | $117.2B | -5.5% |
| Apr 1, 2023 | $94.8B | -2.5% |
Revenue performance
Total net sales fell from the immediately preceding quarter and from the year-ago quarter. Product sales declined, while services revenue rose slightly.
Quarterly comparison
Compared to the prior quarter, revenue decreased sharply. Versus the same quarter one year earlier, revenue also declined, though by a smaller margin.
What to watch
Monitor product sales trends, as they continue to weigh on overall revenue.