Apple beats expectations as quarterly earnings and revenue top forecasts
Photo: Ng Han Guan/AP/TT

Apple Beats Quarterly Expectations as Revenue Rises 12% to $114.48 Billion

Technology giant Apple beat expectations in its quarterly report after the New York Stock Exchange closed on Monday evening.

Earnings per share were $2.10 for the quarter, compared with the $1.99 forecast by analyst firm LSEG, CNBC reports.

Revenue was $114.48 billion, compared with the $113.39 billion expected. Year over year, revenue increased by 12 percent.

iPhone sales for the quarter came in at $57.58 billion. Analysts had forecast $56.59 billion.

iPhone sales for the quarter included only eight days of sales of the new iPhone 18 Pro. The new foldable model did not go on sale during the period.

However, revenue from China was somewhat disappointing, coming in at $17.54 billion. Analysts had forecast $18.75 billion, Bloomberg reports.

In recent days, Apple and semiconductor giant Nvidia have taken turns at the top of the list of the world's most valuable listed companies.

The report is the first since John Ternus took over as Apple's new CEO on September 1, after 15 years with Tim Cook at the helm.

The stock is trading around flat in after-hours trading on the New York Stock Exchange.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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