iPhone group: Apple's iPhone business exceeds stock market expectations
Apple was able to expand its iPhone business before the important Christmas season. However, there are still bottlenecks with the first foldable model, iPhone Duo.
Apple's iPhone business exceeded market expectations in the last quarter, with a 17.5% year-over-year growth in smartphone revenue to $57.56 billion. The company's overall quarterly revenue rose 12% to $114.5 billion, and its profit increased 12% to $30.7 billion. Apple's new hardware boss, John Ternus, mentioned that there are still shortages of the iPhone Duo, the company's first foldable model.
The company's services and China business saw growth, but fell short of analyst expectations. Apple's stock temporarily dropped around 1% in after-hours US trading.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
