$Apple (AAPL.US)$ announced financial results for its fiscal 2023 first quarter ended December 31, 2022. The Company posted quarterly revenue of $117.2 billion, down 5 percent year over year, and quarterly earnings per diluted share of $1.88.

Apple’s board of directors has declared a cash dividend of $0.23 per share of the Company’s common stock. The dividend is payable on February 16, 2023 to shareholders of record as of the close of business on February 13, 2023.

Earnings Highlight

• Earnings came in at $1.88 per share, compared with an average estimate of $1.94 per share.

• Revenue in the fiscal first quarter amounted to $117.2 billion, the company said in a statement Thursday. That compared with Wall Street projections of about $121.1 billion.

• iPhone revenue fell about 8% to $65.78B amid a difficult macroeconomic environment and significant supply constraints.

• Revenue in the company’s fast-growing services segment, rose to $20.77B from $19.52B.

• Apple’s wearables, home and accessories category revenue fell to $13.48B from $14.70B from the year-ago period, while revenue for the iPad grew to $9.40B from $7.25B.

Financial Summary

Price Action

Apple shares are down 4% to $144.82 in after-hours trading Thursday.