Apple has announced its fiscal quarter results, and the results apparently came out better than analysts expected. Between January and March 2023, Apple generated $94.8 billion in revenue, down 3% from $97.2 billion last year.

In the first quarter of the year, the company broke record sales records in iPhone and service sales such as the App Store, Apple Music, Apple Pay and iCloud.

The year-over-year decline was mainly driven by lower Mac and iPad sales. iPhone revenue reached $51.3 billion in some developed and emerging markets, such as India, Indonesia, and Turkey, more than 2% year-on-year and more than double from last year.

Apple services currently have 975 million paid subscriptions, 150 million more than in 2022. The report also shows that the number of active devices has exceeded 2 billion.

Tim Cook announced that the company will continue to invest in the long term, including “significant progress in creating carbon neutral products and supply chains by 2030.” The CEO added that Apple paid out $23 billion of its $28.6 billion operating cash flow to shareholders and increased its quarterly dividend for the eleventh consecutive year.