Apple delivered stronger-than-expected fiscal third-quarter results, beating Wall Street estimates with revenue of $109.42 billion and EPS of $2.02. The stock fell more than 4% in after-hours trading as investors focused on weaker-than-expected Services and Greater China revenue. Gross margin reached 50.1%, above expectations of 47.9%, aided by roughly two percentage points from one-time tariff refunds. Mac revenue surged 29% year-over-year to $10.35 billion and iPhone revenue rose 22% to $54.25 billion, driven by resilient demand ahead of the next launch. Attention now shifts to the earnings call for updates on AI initiatives and the incoming CEO transition in September.
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