Apple Exceeds Revenue Expectations as iPhone Sales Rebound

Apple reported revenue of $94.8 billion and earnings of $1.52 per share for the March quarter, with a profit of $24.16 billion.
iPhone revenue for the quarter brought in $51.3 billion, a record for Q2, while services revenue checked in at a record-breaking $20.9 billion.
Mac and iPad revenue for the quarter checked in at $7.1 and $6.6 billion, respectively.
Apple's wearables division accounted for $8.75 billion in revenue, and the company's R&D expenses in Q1 and Q2 of 2023 came in at nearly $3 billion more than R&D during the same period in 2022.
Apple's board of directors authorized an "additional program to repurchase up to $90 billion" in Apple shares and a slight increase in the company's quarterly dividend.