Apple on Thursday reported sales and profit that beat Wall Street estimates, powered by growth in its iPhone business. But China sales missed analysts’ targets.
Apple shares were down 1.7% in after-hours trading.
The 2% rise in overall fiscal first-quarter sales for the company ended four straight quarters of sales declines on the strength of its iPhone 15 lineup, which includes devices capable of capturing three-dimensional video for the Vision Pro headset being released this week. Apple’s total installed base of devices hit 2.2 billion, up from 2 billion a year ago.
“We did feel good about the plus 6% (revenue growth) for iPhone,” Apple Chief Executive Tim Cook told Reuters in an interview. “We had particularly strong double-digit growth on iPhone in emerging markets outside of China. The iPhone is doing well in those markets.”
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He added: “China is the most competitive smartphone market in the world, and that…
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