Apple reports loss in third quarter but iPhone sales still resilient


The company’s fiscal third-quarter revenue and profit narrowly topped analysts’ estimates, with iPhone sales holding up better than expected

Topics

Apple Inc | Apple iPhones | Apple



Bloomberg 




With investors on edge about an economic slowdown, Inc. offered just enough good news to calm fears — and bought itself some time to ready a wave of new products.


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The company’s fiscal third-quarter revenue and profit narrowly topped analysts’ estimates, with iPhone sales holding up better than expected. Though Chief Executive Officer Tim Cook decried a “cocktail of headwinds” hampering Apple’s business, he predicted that sales would begin to pick up in the coming months.


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First Published: Sat, July 30 2022. 00:18 IST





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