Apple Reports Strong Q3 Earnings Driven by iPhone Sales and China Rebound
Apple has announced impressive third-quarter results, surpassing Wall Street expectations with a significant revenue growth fueled by strong sales of the iPhone 16 line and a rebound in the Chinese market. The tech giant reported revenues of $94 billion, marking the largest growth since late 2021. Despite facing a projected $1.1 billion impact from tariffs, Apple managed to appease investor concerns by demonstrating resilience through robust iPhone demand and an uptick in services revenue, including TV+ and Music, which totaled $27.4 billion for the quarter. CEO Tim Cook highlighted these successes during the earnings call, addressing investor worries about tariff impacts and AI progress.
Bloomberg, CNBC, Apple, NBC News, Yahoo Finance, "Investors Business Daily", The Hollywood Reporter, The New York Times, Axios, CNN