Bloomberg’s Managing Editor for Global Consumer Tech Mark Gurman says today’s earnings may be Apple’s best quarter ever.
Apple reported holiday period revenue that topped Wall Street estimates, driven by strong demand for the iPhone 17, growth in services and a rebound in China.
Revenue jumped 16% to $143.8 billion in the quarter that ended Dec. 27, setting a record, the company said in a statement Thursday. Analysts had estimated $138.4 billion on average, according to data compiled by Bloomberg. Apple’s own projections were for growth of 10% to 12%.
“IPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment,” Chief Executive Officer Tim Cook said in the statement.
The strong results reflect the success of Apple’s latest iPhone, a product line that accounts for roughly half its revenue. Higher-end versions of the device have been especially popular, helping further fuel sales and profit for the company.
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