Apple beats expectations as stock falls after hours

iPhone sales increased by 22 percentage points and revenue in the segment amounted to $54.25 billion. Expectations were $53.86 billion, CNBC reports.

However, the services segment missed expectations, with revenue there amounting to $30.74 billion compared with the expected $31.22 billion.

Total revenue was reported at $109.42 billion. Analysts' expectations were $108.65 billion.

Earnings per share amounted to $2.02.

The stock is down 4 percent in after-hours trading.

Following the interim results, Apple CEO Tim Cook will hold his final conference call. John Ternus will take over as CEO on September 1.

"We have a bright future," Cook says.