Apple reported its highest-ever net profit in the holiday quarter as revenues swelled way beyond forecasts to $111.4bn on the back of a 57 per cent rise in sales in Greater China.
Apple’s net profits rose 29 per cent to $28.8bn, against forecasts it would rise 6.3 per cent, while earnings per share jumped 35 per cent to $1.68. Forecasters expected revenues of about $102bn.
All five of the $2.4tn company’s product categories grew at double-digit percentages, led by a 41 per gain in iPad sales and a 30 per cent climb in wearables, which include AirPods and the Apple Watch. The iPhone, by far its biggest category, generated sales of $65.6bn, a 17 per cent gain that far outpaced analyst expectations of a 6 per cent rise.
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