Apple has reported a softer decline in revenue for its fiscal second quarter, marking its second straight quarterly sales drop in its fiscal year 2023, but still managed to beat Wall Street forecasts.

As the Techloy chart below shows, the tech giant posted quarterly revenue of $94.8 billion, down 2.57% year over year from $97 billion in Q2 2022 ahead of Wall Street's forecast of a 4.4% decline, according to Refinitiv data. Quarterly earnings per diluted share was $1.52, unchanged year over year.

The improved performance in the quarter was driven by an uptick in iPhone sales which went up 1.5% to $51.3 billion, beating expectations for a 3.3% drop even as global smartphone shipments fell almost 15% during the first three months of 2023, according to research firm IDC.

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