On November 3rd, Apple released its fourth quarter performance report for the 2023 fiscal year. The report shows that the company's revenue in the fourth quarter was 89.5 billion US dollars, a year-on-year decrease of 1%; The quarterly net profit was $23 billion, a year-on-year increase of 11.1%; Quarterly diluted earnings per share were $1.46, compared to $1.29 in the same period last year.
The iPhone remains Apple's main revenue line. In the fourth quarter, Apple's iPhone sales were $43.8 billion, a 3% increase from $42.6 billion in the same period last year, making it the only hardware segment that saw growth this quarter. This means that the iPhone 15 series has withstood the pressure.
Previously, Cook stated in an interview with CNBC that in the quarter ended September, the iPhone 15 series performed better than the iPhone 14 series in the same period last year. He cited data from market research firm Kantar as saying, "We have four of the top five best-selling smartphones in urban areas of China." In addition, Cook added that due to strong demand, Apple's more expensive iPhone Pro and Pro Max are in short supply.
Except for the iPhone, Apple's revenue for other hardware products decreased in the fourth quarter. In this fiscal quarter, Mac revenue reached $7.614 billion, compared to $11.508 billion in the same period last year; IPad revenue reached $6.443 billion, compared to $7.174 billion in the same period last year; The revenue from wearable devices, home furnishings, and accessories business reached $9.322 billion, compared to $9.65 billion in the same period last year.
It should be pointed out that Apple's services business had revenue of $22.314 billion in the fourth quarter, an increase of 16% from $19.188 billion in the same period last year. Cook specifically mentioned in the executive meeting after the financial report that this is a historic high in service business revenue.
From a regional perspective, Apple's net sales in the Greater China region for the fourth fiscal quarter were $15.084 billion, a decrease of 2.5% from $15.47 billion in the same period last year. According to the interface news reporter, due to the relatively strong sales of iPhones, the decline in revenue this time is partly due to the decrease in revenue from other business lines, and partly due to changes in exchange rates.
Outside of Greater China, the region with the most significant decline in Apple's fourth quarter revenue is Japan. According to the financial report, Apple's net income for the fourth fiscal quarter in Japan was $5.505 billion, a decrease of 3% from $5.7 billion in the same period last year. In Europe and other Asia Pacific regions, Apple's revenue has only declined by 1%, while in the Americas, it has also achieved a 1% increase in revenue.
Apple CFO Luca Mesteri stated that the company achieved a double-digit percentage increase in earnings per share in the fourth quarter, returning nearly $25 billion in cash to shareholders, and will continue to invest in long-term growth plans. It is reported that Apple's board of directors has announced that it will distribute a cash dividend of $0.24 per ordinary share to ordinary shareholders registered on the stock market as of November 13, 2023.
Although Apple's quarterly revenue and earnings per share exceeded analysts' expectations, this is the fourth consecutive quarterly revenue decline for this trillion dollar company. Due to the impact of financial report news, as of press release, Apple's US stock market fell 3.39% after hours.