Premium 5G iPhones and subscriptions propel Apple sales

Apple said on Tuesday that iPhone sales were $39.57bn in its third fiscal quarter, up nearly 50 percent from a year earlier and above analyst expectations.

Apple Inc on Tuesday reported quarterly sales and profits that beat analyst expectations as consumers bought premium versions of its 5G iPhones and signed up for the company’s subscription services. Driven by better-than-expected iPhone sales, total revenue hit $81.43bn, which was above analyst expectations of $73.30bn, according to IBES data from Refinitiv. Earnings were $1.30 per share, above estimates of $1.01 per share, according to Refinitiv. Apple’s strongest sales growth came from China, where Chief Executive Tim Cook told Reuters that customers are buying up accessories such as the Apple Watch to pair with their iPhones. China sales grew 58 percent to $14.76bn in the fiscal third quarter ended June 26.