Apple Q2 2023 earnings: Mac sales way down while services set a new record
Apple recently announced its second quarter 2023 earnings, posting revenue of $94.8 billion for the quarter, a 3 percent decline year over year, and quarterly earnings per diluted share of $1.52, which is unchanged from last year. This beat the expectations of analysts that predicted revenue of $92.96bn and $1.43 earnings per share. Mac sales took the biggest hit, posting net revenue of $7.2bn, a 31 percent decrease compared to the same quarter last year. iPad revenue was also down 13 percent to $6.7bn. Apple did say, however, that the Mac and iPad reached all-time highs for their installed bases worldwide, but the company did not provide numbers. Apple’s Wearables, Home and Accessories sales were flat, with $8.76bn this quarter, compared to $8.8bn. However, Apple’s Services continue to grow, with net revenue this…