SAN JOSE (California), July 31 — Apple reported strong growth in its iPhone business in its fiscal third quarter, with revenue from the device rising around 22 per cent year-on-year to US$54.25 billion, the US tech giant said on Thursday, reported German Press Agency (dpa).
The figure exceeded analysts’ average expectations.
Overall revenue increased by 16 per cent to around US$109.4 billion in the quarter ended in June, while net profit rose 27 per cent to roughly US$29.8 billion.
Apple said the results also benefitted from refunds of US import tariffs that had already been recognised after the US Supreme Court struck down some of President Donald Trump’s tariff measures.
Revenue from services and Apple’s business in Greater China both increased but fell short of analysts’ expectations. Apple shares were down about 4 per cent in after-hours US trading.
The quarter was the last full reporting period under long-serving chief executive Tim Cook, who is due to hand over to hardware chief John Ternus in September.
