Six Colors
Six Colors

by Jason Snell & Dan Moren

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Apple’s shaky quarter hides big profits and expense cuts

Apple’s business has done so well for so long that it’s been a little unusual to watch the company produce financial results that aren’t setting all-time records. But the huge jump in growth Apple made in 2022 has proved to be a bar too high for the company to leap over in 2023, and so Thursday’s report of third-quarter fiscal results were once again down—but down with a huge asterisk. When you make nearly $20 billion in profit in three months, how down can your quarter really be?

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