Diluted earnings per share of Apple increased 5% in Q3 FY23. Credit: Jimmy Jin on Unsplash.

Technology giant Apple has reported a total revenue of $81.8bn in the third quarter (Q3) of fiscal year(FY) 2023, down 1% from $82.9bn in the corresponding period in FY22.

Sales in the Americas dropped to $35.3bn in Q3 FY23 from $37.4bn a year ago. Meanwhile, the company reported a sales total of $20.20bn in Europe over the quarter.

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During the period ending 1 July 2023, sales of iPhones also declined to $39.6bn compared with $40.6bn in the same period a year ago.

The company’s operating income also dropped to $22.99bn from $23.0bn a year ago and its net income also improved to $19.8bn from $19.4bn in Q3 FY22.

Its diluted earnings per share (EPS) were $1.26 in Q3 FY23, an increase of 5% from $1.20 in the prior year’s quarter.

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In the year to date, the company’s net sales were $293.7bn, down from $304.1bn in the same period in FY22.

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Its net income for the first three months of the FY was $74.03bn against $79.08bn a year ago.

Apple CEO Tim Cook said: “We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over one billion paid subscriptions and we saw continued strength in emerging markets thanks to robust sales of iPhone.

“From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it.”

Last month, Apple and Amazon were fined a combined €194.1m ($218.03m) by Spain’s antitrust regulator CNMC for restricting competition on the Amazon website in the country.