Apple beat sales expectations on Wall Street in the last quarter as rising demand for its iPads and Macbooks offset a decline in iPhone sales.
The world’s most valuable public company, with a stock market valuation of more than $3 trillion, reported total revenue of $85.8 billion for the three months to the end of June, ahead of forecasts of $84.4 billion. The revenue represented a 4.9 per cent increase on the previous year.
Sales generated by the iPhone, which typically amount to about half the company’s business, fell by 0.9 per cent to $39.3 billion under pressure from weak consumer sentiment and competition in China.
Indeed, revenue from Greater China dropped by 6.5 per cent to $14.7 billion during the quarter.
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