SAN FRANCISCO: Apple on Tuesday delivered stronger-than-expected results in the just-ended quarter as growth from services helped offset weak iPhone sales, sparking a rally in shares of the tech giant.
As iPhone sales have weakened, Apple has been shifting to earnings from digital content and services sold to the legions of fans of its devices. Apple has stopped reporting iPhone unit sales, but Cook said he saw a"strong customer response" to iPhone promotions and financing programs.Long the driver of Apple's money-making machine, iPhone revenue was down 12 per cent from last year to US$26 billion.The premium smartphone market has grown fiercely competitive and overall sales have cooled as a lack of stunning innovation has caused people to wait longer before upgrading to new models.
Money taken in from services, which Apple has repeatedly stressed as being a potential big revenue source for the company, rose to US$11.5 billion from US$10 billion in the same quarter last year.
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