Apple beats on earnings, sets new revenue record

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Apple Inc. surpassed analysts' expectations in its third-quarter earnings report, posting record revenues despite chip shortages and supply chain woes.

Cook continued, "As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone.""Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment," Luca Maestri, Apple’s CFO, said.

"We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category."Apple raked in $40.665 billion in iPhone sales alone, beating Refinitiv's estimate of $38.33. The company also beat iPad sales of $7.22 billion, where analysts expected $6.94 billion.'s $8.84 billion in wearables and accessories sales also fell short of the anticipated $8.

 

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