Apple’s iPhone bounces back, helping sales top estimates

On a conference call with analysts, Apple said that revenue in the current period would drop by a similar amount as in the past quarter, which ended April 1. — Photo by blocks on Unsplash

Sales of Apple Inc.’s iPhone rebounded last quarter, helping the world’s most valuable company top earnings estimates and weather an industrywide downturn that has battered much of its product lineup.

Overall revenue amounted to US$94.8bil (RM420.7bil) in the fiscal second quarter, Apple said Thursday, exceeding the US$92.6bil (RM410.9bil) analysts predicted. Though the sales fell 2.5% in the period, the company had warned investors to expect a drop of roughly twice that.