Apple Inc. posted robust financial results for the third quarter, surpassing expectations. The growth was driven by strong demand for its latest iPhone 17, despite challenges from the global trade war and increasing competition.
«Today, Apple is very proud to report a September quarter revenue record of $102.5 billion. This includes a September quarter record for iPhone and an all-time revenue record for Services,» Euronews reported, citing CEO Tim Cook.
As a result, Apple’s quarterly profit rose to $27.5 billion, nearly double the figure from a year earlier. The strong performance lifted Apple shares by about 2% in after-hours trading following the earnings announcement.
The company also managed to keep pricing stable for its newest iPhone models while absorbing the cost of U.S. tariffs imposed under President Donald Trump on devices assembled in India and China. According to Apple, these tariffs cost the company approximately $1.1 billion in the past quarter and are expected to add another $1.4 billion in expenses during the final quarter of the year.
