The iPhone 14 and 14 Plus continued to delight users with their long-lasting battery and advanced camera. Let’s start with iPhone, which set a new March quarter record with revenue of $51.3 billion. Let me share how these results showed up across our lineup of products and services. Despite these challenges, we continue to manage for the long term and to push the limits of what’s possible always on behalf of the customers who depend on our products, whether it’s students exploring new frontiers, developers dreaming up their next big idea, or artists taking their creativity to a whole new level. Revenue was down 3% year over year as a result, while on a constant currency basis, we grew in total and in the vast majority of the markets we track. And whether it’s in the design lab in Cupertino or in one of the brand new retail stores in India, I am constantly inspired by the way our people come together to make a real difference in the world.ĭuring the March quarter, we continue to face foreign exchange headwinds, which had an impact of more than 500 basis points as well as ongoing challenges related to the macroeconomic environment. It speaks to the incredible power of Apple products and services to enrich people’s lives in indispensable ways. This result as a testament first and foremost to our teams around the world who are engaged every day in the work of bringing new innovations to life. We were particularly pleased with the performance we saw in emerging markets and achieved all time records in Mexico, Indonesia, the Philippines, Saudi Arabia, Turkey, and the UAE, as well as a number of March quarter records, including in Brazil, Malaysia, and India. We set an all-time record for services and a March quarter record for iPhone. Today, we’re reporting revenue of $94.8 billion for the March quarter, which was better than our expectations. Good afternoon everyone, and thanks for joining us. I’d now like to turn the call over to Tim for introductory remarks.
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Apple assumes no obligation to update any forward-looking statements or information which speak as of their respective dates. For more information, please refer to the risk factors discussed in Apple’s most recently filed annual report on form 10K and the form 8K filed with the SEC today, along with the associated press release. These statements involve risks and uncertainties that may cause actual results or trends to differ materially from our forecast. Please note that some of the information you’ll hear during our discussion today will consist of forward-looking statements including without limitation, those regarding revenue, gross margin, operating expenses, other income and expense, taxes, capital allocation and future business outlook, including the potential impact of macroeconomic conditions on the company’s business and results of operations.
After that, we’ll open the call to questions from analysts. First today is Apple, CEO, Tim Cook, and he’ll be followed by CFO, Luca Maestri. Good afternoon and thank you for joining us.
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