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Earnings for the fourth quarter of 2023 arrived as Apple's board of directors announced a price of $0.24 per share after another annual indicator. decrease in income.
It hasn't been the easiest year for Apple, with revenue falling throughout all four quarters of 2023. Despite this, the company is maintaining the same dividend rate for the fourth quarter as it did in the third quarter.
Apple on Thursday announced earnings for the fourth quarter of 2023, with revenue of $89.5 billion, down from $90.1 billion in the fourth quarter of 2022. The Board of Directors announced a payment to shareholders of $0.24 per share.
The cash dividend will be paid on November 16 to shareholders of record as of the close of business on November 13, 2023.
Apple's fourth quarter is typically a strange one for the company. The latest iPhones are usually announced and released at the end of the quarter. They were late to make a significant impact in previous years, but the earlier-than-usual 2023 release is evident in earnings given weaknesses in other parts of Apple's hardware business.
Another strength was services revenue, which reached $22.3 billion, up from $19.18 billion in the fourth quarter of 2022. Mac revenues announced during WWDC will have an impact, but clearly not enough as that sector was also down for the year. year.
The earnings conference will be held at 5:00 p.m. EST and will provide additional information regarding these earnings.