Apple reports quarterly results better than expected

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Apple reports quarterly results better than expected
Photo: Mark Lennihan/AP/TT

Earnings per share were $2.01, compared with the $1.92 analysts expected on average, according to research firm LSEG, CNBC reports.

Revenue was $111.18 billion, compared with the expected $109.7 billion.

Analysts had predicted a 15 percent increase in sales compared with the same quarter last year. Sales instead rose 16.5 percent.

Analysts also expected sales from the iPhone, the company's traditional cash cow, to reach $57.21 billion, in part because the popular iPhone 17 was released last year.

But that was not achieved, and iPhone sales totaled $56.99 billion.

Apple shares fell 0.9 percent in after-hours trading on the New York Stock Exchange.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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