Apple Inc. has announced that it will release its second-quarter earnings for the fiscal year 2020, which ended in March 2022, following the close of the U.S. stock market on May 4, Eastern Daylight Time (EDT). As soon as the results are released, Apple will hold an earnings call in order to explain the results and to answer any questions that analysts might have.

Apple’s investor relations channel on the company’s website will broadcast live the conference call on the day it takes place.

There was a decline in Apple’s sales in most of its product categories in the first quarter of fiscal 2023, with the exception of services and iPads. According to Apple’s official website, its first quarter net sales came in at $117.154 billion, down five percent from the same period last year, and its net income came in at $29.998 billion, down 13 percent from the same period last year. The net income from the iPhone business was $65.775 billion in the first quarter of this year, down 8 percent from $71.628 billion in the same quarter last year.

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This represents a 29 percent decline from the previous year, when Mac revenue was $7.74 billion, compared with market expectations of $9.72 billion. There was a decrease of 8 percent in the net sales of the wearable, home, and accessories business in the first quarter of this year compared to $14.701 billion in the same quarter last year. Furthermore, iPad revenue reached $9.40 billion during the quarter, compared with market expectations of $7.78 billion, and increased by 30 percent from the previous quarter, and services revenue reached $20.77 billion in comparison to market expectations of $20.47 billion, representing a 6.4% increase from the prior-year quarter.

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