Apple’s quarterly profits and revenue crept past Wall Street forecasts, despite lower iPhone sales as it faced mounting competition in China.
The group on Thursday reported revenue of $124.3bn for its December quarter, above analysts’ estimates in a Bloomberg poll of $124.1bn and up 4 per cent from the same period in the previous year. Net income climbed about 7 per cent to $36.3bn, also above expectations of $35.5bn.
iPhone sales of $69.1bn were, however, down slightly and below forecasts of about $71bn.
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