Apple earnings beat forecasts on iPhone 17 demand
AFP | San Francisco
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Apple said Thursday it had its best-ever start to the year when it came to earnings, with iPhone demand and digital service sales helping it beat expectations.
The pioneering Silicon Valley company reported profit of $29.6 billion on revenue of $111.2 billion in the recently ended quarter.
During the quarter, iPhone sales grew by double digits in just about every country where it does business, and its services unit reached an all-time high, according to Cook.
John Ternus, 50, will take over as Apple chief executive in September, with Cook becoming executive chairman of the iPhone maker's board of directors.
One concern haunting investors is that Apple appears to be easing into generative AI while rivals Google, Microsoft and OpenAI race ahead.
A promised upgrade to its Siri digital assistant was delayed in what analysts called a rare stumble for the company
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