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Strong iPhone sales propel Apple's fiscal Q3 results past Wall Street's expectations
['Abc News']
ABC News: US
Apple posted a solid fiscal third quarter on Thursday, climbing past Wall Street’s expectations thanks to strong sales of the iPhone and MacBook computersApple posted a solid fiscal third quarter on Thursday, climbing past Wall Street's expectations thanks to strong sales of the iPhone and MacBook computers.
While it hasn't yet raised iPhone prices, analysts and consumers expect that to happen later this year.
The maker of the iPhone and iPad said Thursday it earned $29.79 billion, or $2.02 per share, in the April-June period.
That is up 27% from $23.43 billion, or $1.57 per share, in the same period a year earlier.
“As the market grows more worried about free cash flow trajectories elsewhere in Big Tech, Apple keeps standing out as the safe haven in the storm.”