Apple delivers higher profits, but iPhone sales slip

San Francisco : Apple reported a rise in quarterly profits Tuesday, but its shares took a hit from weaker iPhone sales ahead of a 10-year-anniversary model on the horizon.

Apple said its profit climbed 4.9 percent to slightly more than $11 billion on revenue rising 4.6 percent to $52.9 billion in the quarterly period that ended April 1.

Shares of the California-based company were down nearly two percent to $144.94 in after-market trades that followed release of the earnings figures.

"We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus," Apple chief executive Tim Cook said in the earnings release.

Still, iPhone sales dipped slightly compared with a year ago to 50.8 million units, below most forecasts for the key profit machine for Apple.

During a conference call with analysts, Cook said Apple was seeing a "pause" in iPhone purchases that he felt was caused by unconfirmed "reports about future iPhones."

"That is clearly what is going on," Cook said.

Apple has annually unveiled new iPhone models during special events in September, with major innovations anticipated this year because it will mark the tenth anniversary of the debut of the world-changing mobile device.

Still, the company contended that iPhone sales were better than it had expected, and skewed toward large-screen iPhone 7 models that have higher margins of profit.