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Apple profit rises on iPhone sales
Apple announced profits that exceeded expectations in the third fiscal quarter, supported by a 22% increase in iPhone sales. Total revenue reached $109.42 billion, surpassing the forecast of $108.65 billion, with iPhone revenue amounting to $54.25 billion. Despite the company's positive earnings results, its stock declined after market close due to weak revenue from the services sector, which fell short of expectations at $30.74 billion compared to the predicted $31.22 billion. Apple achieved a net profit of $29.79 billion, up from $24.43 billion in the same period last year. The company is facing a global chip supply crisis, prompting it to raise prices on some products, with expectations of increased iPhone prices throughout the year. The company is preparing to launch a new version of its voice assistant, Siri, and to introduce a new generation of iPhones in September, with a focus on competing in the artificial intelligence field. The results highlight the company's success in achieving revenue growth of over 15% for the third consecutive quarter, despite challenges in the supply chain and intense market competition.
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