Apple (NASDAQ:AAPL) First Quarter 2023 Results
Key Financial Results
Revenue: US$117.2b (down 5.5% from 1Q 2022).
Net income: US$30.0b (down 13% from 1Q 2022).
Profit margin: 26% (down from 28% in 1Q 2022). The decrease in margin was driven by lower revenue.
EPS: US$1.89 (down from US$2.11 in 1Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Apple Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 3.7%.
Looking ahead, revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Tech industry in the US.
Performance of the American Tech industry.
The company's shares are up 5.9% from a week ago.
You should always think about risks. Case in point, we've spotted 2 warning signs for Apple you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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