Apple reported solid profit thanks to increased revenue on Thursday, but the tech giant’s iPhone sales missed estimates while growth in services revenue slowed.
Profits rose one percent to $20.7 billion, while revenue rose eight percent to $90.1 billion.
Shares fell 0.9% in after-hours trading, a much smaller drop than Meta, the parent company of Facebook and other tech giants that have plunged following the results in recent days.
© 2022 AFP
Quote: Apple reports solid profit, but iPhone sales fall short of estimates (2022, October 27) taken October 27, 2022 from https://techxplore.com/news/2022-10-apple- solid-profits-iphone-sales.html
This document is the subject for the collection of authors. Apart from any fair dealing for personal study or research purposes, no part may be reproduced without written permission. The content provided is for informational purposes only.