Apple on Thursday posted its fourth consecutive quarterly loss with revenue of $89.5 billion in its fiscal 2023 fourth quarter, down 1 percent over the same quarter last year. Mac sales were once again hammered, down about 35 percent year and year. iPhone sales, which were up slightly, and Services, which gained about 16 percent, were the lone bright spots.
Apple was widely expected to post a loss in the quarter. The company continues to struggle in a difficult economy for higher-priced goods and feel pressure from Huawei in China. Apple’s Greater China sales were flat year-over-year. Apple is heading into the holiday shopping season with an armful of new products, including the iPhone 15, Apple Watch Series 9, and M3 MacBook Pro, but will face lots of uncertainty.
Here’s how Apple’s product category sales looked in the quarter ending September 30:
- iPhone: $43.8 billion (Up 3 percent)
- Mac: $7.6 billion (Down 34 percent)
- iPad: $6.4 billion (Down 10 percent)
- Wearables: $9.3 billion (Down 3 percent)
- Services: $22.3 billion (Up 16 percent)
The iPhone figures were boltstered by about two weeks of iPhone 15 sales, which is typical for this quarter. Apple’s newest MacBook Pros and iMacs with the M3 chip don’t go on sale until next week and will factor into Apple holiday quarter (Q1 2024).
Tim Cook noted that the quarter represented a record for iPhone sales in the September quarter.
