{
  "id": 17860879,
  "title": "Apple results beat Wall Street expectations on strong iPhone sales",
  "url": "https://urgent.news/2026/11/02/apple-results-beat-wall-street-expectations-on-strong-iphone-sales-17860879",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-11-02T21:31:17.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/apple-results-beat-wall-street-expectations-strong-iphone-sales-6514261"
  },
  "original_language": "en",
  "account": "Apple's fourth-quarter results on November 2nd exceeded Wall Street expectations, fueled by strong iPhone 18 Pro sales and price increases that helped offset rising memory-chip costs. Fiscal fourth-quarter sales reached $114.48 billion, surpassing analyst estimates of $113.39 billion. Profit for the quarter amounted to $2.10 per share, surpassing estimates of $1.99 per share, even when excluding 5 cents per share from tariff refunds. Shares of Apple were down slightly after-hours. The company's shift towards spaced iPhone launches under CEO John Ternus has led to a more consistent revenue cycle. Apple also introduced new non-iPhone products, including touchscreen laptops and a smart-home hub. However, the iPhone Duo, Apple's first foldable phone, faced supply constraints, with CEO Ternus stating that a small percentage of units have been returned due to display issues. Despite this, iPhone sales for the quarter were $57.58 billion, exceeding estimates. Gross margins improved to 47.9%, above the 47.5% estimate. Services revenue remained in line with expectations at $31.57 billion.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Financial Times",
        "title": "Apple’s strong iPhone and Mac sales offset weaker performance in China",
        "url": "https://urgent.news/2026/11/02/apples-strong-iphone-and-mac-sales-offset-weaker-performance-in-china",
        "published": "2026-11-02T21:30:41.000Z"
      },
      {
        "outlet": "Fortune",
        "title": "Apple outpaces sales expectations as it continues to battle surging memory chip costs",
        "url": "https://urgent.news/2026/11/02/apple-outpaces-sales-expectations-as-it-continues-to-battle-surging",
        "published": "2026-11-02T22:00:20.000Z"
      },
      {
        "outlet": "The Verge",
        "title": "Apple set an iPhone sales record even without a new standard iPhone",
        "url": "https://urgent.news/2026/11/02/apple-set-an-iphone-sales-record-even-without-a-new-standard-iphone",
        "published": "2026-11-02T22:02:36.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Apple results beat Wall Street expectations on strong iPhone sales",
        "url": "https://urgent.news/2026/11/02/apple-results-beat-wall-street-expectations-on-strong-iphone-sales-17865143",
        "published": "2026-11-02T22:13:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}