Comment on Apple reports record revenues despite stagnant iPhone sales

Apple reports record revenues despite stagnant iPhone sales

Enlarge / Apple CEO Tim Cook. (credit: Lionel Hahn/Getty Images) Apple reported its earnings results for the third quarter of the 2024 fiscal year, and it satisfied investors' expectations at the top level with 5 percent growth year over year. The company set a third-quarter record with $85.8 billion in revenue. Despite that growth, a couple of key things investors were concerned about—overall iPhone sales and revenue in China—slipped downward, and Apple's stock fell slightly in after-hours trading. Revenue in China fell to $14.7 billion, down 6.3 percent from a year ago, as Apple faces fierce competition from Huawei and other smartphone companies.

 

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