Apple topped Wall Street forecasts for its fiscal third quarter thanks to strong sales of high-end, 5G iPhones and strong gains in subscription bundles.For the period ending June 30, the tech giant reported revenue of $81.4 billion, up 36%, with earnings per diluted share of $1.30.
Both numbers were significantly better than analysts’ expectations of $73.3 billion in revenue and earnings of $1.01, according to Refinitiv.Like other tech players, Apple has been coping with worldwide chip shortages, and CEO Tim Cook had warned investors to expect a slowdown in iPhone sales in the third quarter.
Despite that splash of cold water, sales of iPhones reached $39.6 billion in the period.Reaction to the better-than-anticipated numbers didn’t budge
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