Apple has reported first-quarter earnings that surpassed expectations, with revenue soaring 16 per cent on an annual basis. Overall iPhone revenue surged 23 per cent on an annual basis to $US85.27b in revenue, which the company attributed to strong sales of the iPhone 17 models, which were released in September. “The demand for iPhone was just simply staggering,” Apple chief executive Tim Cook told CNBC’s Steve Kovach. The strong growth is a reversal from the holiday quarter last year, when Apple reported iPhone sales that declined slightly. Cook said that the performance in the region was driven by iPhone sales.