Despite an 11% drop in sales in China, tech giant Apple has posted record quarterly revenue of $124.3 billion - up 4% year on year on the back of a lift in the company’s service unit and better-than-expected Mac sales.
Its earnings per share (EPS) also rose to a record $2.40, beating analysts' predictions of $2.34 - a 10% rise over the previous correlating period.
Apple Pay and App Store offerings jumped ~14% year-on-year, with revenue of US$26.34 billion.
iPhone sales fell just short of estimates to US$69.14 billion and China sales fell to US$18.54 billion - short of analysts' predictions of US$21.57 billion.
Meanwhile, wearable sales remained steady at US$11.75 billion, just shy of estimates.
“Today Apple is reporting our best quarter ever, with revenue of US$124.3 billion, up 4% from a year ago,” said Tim Cook, Apple’s CEO.
Looking to the future, Cook was excited about its Apple Intelligence AI becoming available in even more languages in April.
Apple’s shares were US$237.59 at the the time of writing - slightly down $1.77 (0.74%). Its market cap was $3.57 trillion.
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