Apple sees revenue growth accelerating after setting record for iPhone sales, China strength

In this photo released by Apple, Apple CEO Tim Cook holds up the all-new iPhone 12 Pro during an Apple event at Apple Park in Cupertino, California

Apple Inc on Wednesday reported holiday quarter sales and profits that beat Wall Street expectations, as new 5G iPhones helped push handset revenue to a new record and sparked a 57% rise in China sales.

Apple shipped its iPhone 12 lineup several weeks later than usual, but an expanded number of models and new look tapped pent up demand for upgrades, especially in China.

The company also posted strong sales of its Mac laptops and iPads in the quarter, driven by consumers working, learning and playing from home during the pandemic.