Resilient iPhone sales helped Apple to beat Wall Street expectations in the latest quarter, with the technology group’s revenue slipping less than had been feared despite disappointing demand for consumer electronics.
While Apple unveiled its second consecutive decline in quarterly revenue this evening, a 1.5 per cent rise in smartphone sales defied declines across the wider industry.
The news sent shares in the iPhone maker up by 2 per cent, or $3.25, to $169.04 during out-of-hours trading. The company also announced $90 billion in share repurchases.
Apple’s sales fell by 2.5 per cent to $94.84 billion during its second quarter, which ran to April 1, exceeding expectations of about $92.9 billion. Net profits at the business declined by 3.4 per cent to $24.2 billion, also
The Flash Sale.
