Apple reports better-than-expected quarter driven by iPhone sales

Apple reported $24.16 billion in net income during the quarter versus $25.01 billion last year. Overall revenue was down 3% from last year's $97.28 billion in sales.iPhone revenue:iPad revenue:$8.76 billion vs. $8.43 billion expectedApple didn't provide formal guidance, continuing its practice that dates back to 2020 and the start of the Covid-19 pandemic. Management typically provides some data points on a call with analysts.

"It was quite a good quarter from an iPhone point of view, particularly relative to the market when you look at the market stats," Cook told CNBC's Steve Kovach. "There's really two reasons for that," Cook said. "One is the macro situation in general. And the other is where we're still comparing to the very difficult compare of the M1 MacBook Pro 14 and 16-inch from the year-ago quarter."Apple's Services business includes monthly subscriptions, revenue from Apple's App Store, warranties, and search licensing revenue from companies like Google. Apple reported $20.9 billion in services revenue, a 5.

While sales shrunk in most regions that Apple monitors, they grew in its Asia Pacific region, which includes India. Cook visited India last month to open Apple stores and meet with politicians.

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