Profits came to $23.6 billion, or $1.40 per share, while revenue climbed 54% to $89.6 billion in the fiscal second quarter, the company said Wednesday. Analysts polled by FactSet expected 99 cents per share on $77.1 billion in sales.
The iPhone, Apple’s crown jewel, hadn’t sold quite as well as usual over the past few years as people held on to their current phones for longer. But the release of four iPhone 12 models last fall has unleashed purchases, and iPhone sales rose 66% to $47.9 billion on top of a holiday-season quarter when iPhone sales jumped 17%.
Some analysts believe the popularity of the iPhone 12 could lead to the device’s biggest sales year since 2014, when the iPhone 6 came out. It was a big hit because Apple enlarged the device’s screen.
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US Companies See Record-Low Profits in China Amid Geopolitical Tensions and Slow Growth, Report Says - American companies in China are seeing record-low profits, with business confidence at an all-time low amid U.S.-China tensions and a slowing Chinese economy
American companies in China are seeing record-low profits, with business confidence at an all-time low amid U.S.-China tensions and a slowing Chinese economy, according to a report published Thursday by a U.S. business group.
GOOGLE WINS LEGAL BID TO OVERTURN 1.5 BILLION EURO ANTITRUST FINE IN EU DIGITAL AD CASE
Google won a court challenge this week against a 1.49 billion euro ($1.66 billion) European Union antitrust fine imposed five years ago that targeted its online advertising business.
CONGRESS TARGETS CHINESE INFLUENCE IN HEALTH TECH. IT COULD COME WITH TRADEOFFS
A California biotechnology company that helps doctors detect genetic causes for cancer is among those that could be cut out of the U.S. market over ties to China, underscoring the possible tradeoffs between health innovation and a largely bipartisan push in Congress to counter Beijing's global influence.
FACEBOOK OWNER META BANS RUSSIA STATE MEDIA OUTLETS OVER 'FOREIGN INTERFERENCE'
Meta said it's banning Russia state media organization from its social media platforms, alleging that the outlets used deceptive tactics to amplify Moscow's propaganda. The announcement drew a rebuke from the Kremlin.
TECH BILLIONAIRE RETURNS TO EARTH AFTER FIRST PRIVATE SPACEWALK
A billionaire spacewalker returned to Earth with his crew on Sunday (15), ending a five-day trip that lifted them higher than anyone has traveled since NASA's moonwalkers.
UNITED AIRLINES WILL OFFER FREE INTERNET ON FLIGHTS USING SERVICE FROM ELON MUSK'S SPACEX
United Airlines has struck a deal with Elon Musk's SpaceX to offer satellite-based Starlink WiFi service on flights within the next several years.
GOOGLE'S MILLISECOND AD AUCTIONS ARE THE FOCUS OF A MONOPOLY CLAIM
It happens in milliseconds, ideally, as you browse the web. Networks of computers and software analyze who you are, what you are looking at and buy and sell the advertisements you see on web pages.
LONGSHOREMEN AT KEY US PORTS THREATENING TO STRIKE OVER AUTOMATION AND PAY
Determined to thwart the automating of their jobs, about 45,000 dockworkers along the U.S. East and Gulf Coasts are threatening to strike on Oct. 1, a move that would shut down ports that handle about half the nation's cargo from ships.
CALIFORNIA GOVERNOR SIGNS LAWS TO PROTECT ACTORS AGAINST UNAUTHORIZED USE OF AI
California Gov. Gavin Newsom signed off Tuesday on legislation aiming at protecting Hollywood actors and performers against unauthorized artificial intelligence that could be used to create digital clones of themselves without their consent.
UBER TO DISPATCH WAYMO'S ROBOTAXIS IN AUSTIN AND ATLANTA NEXT YEAR
Ride-hailing leader Uber announced it will dispatch robotaxis built by driverless technology pioneer Waymo beginning next year in Austin, Texas, and Atlanta in a deal that deepens the bond between once-bitter rivals.
