Apple's Steady Revenue Growth Amid Mixed Results

Apple announced steady quarter-on-quarter revenue growth for the upcoming period, driven by iPhone sales that outpaced Wall Street expectations, although China sales lagged. Despite an overall decline, AI features and strategic discounts aid growth. Apple faces scrutiny under EU's Digital Markets Act and US Department of Justice probes.

Apple announced on Thursday that its revenue would see steady quarter-on-quarter growth in the July-September period, following robust iPhone sales that surpassed Wall Street targets and underperforming China sales. Shares fell 1% in extended trading.

In its fiscal fourth quarter, Apple expects revenue growth similar to the 4.9% posted in the April-June period, with sales totaling $85.78 billion, exceeding analyst estimates of $84.53 billion. This follows a decline in the year's first quarter.

iPhone sales dropped 0.9% to $39.30 billion, performing better than the anticipated 2.2% decline, as demand increased before the launch of artificial-intelligence features. CFO Luca Maestri stated that results were better than expected due to strong performance from the iPhone 15.

(With inputs from agencies.)