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Apple Inc.’s revenue in the holiday quarter trounced Wall Street estimates, driven by strong demand for the new iPhone 17, growth in services and a rebound in China.


Revenue jumped 16% to $143.8 billion in the period that ended Dec. 27, setting a record, the company said in a statement Thursday. Analysts had estimated $138.4 billion on average, according to data compiled by Bloomberg. Apple’s own projections were for an increase 10% to 12%.


“IPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment,” Chief Executive Officer Tim Cook said in the statement.


The results reflect the success of Apple’s latest iPhone, a product line that accounts for roughly half its revenue. Higher-end versions of the device have been especially popular, helping further fuel sales and profit for the company.


Apple’s renewed growth should help ease concerns about its artificial intelligence push, which is getting an overhaul this year after recent stumbles. The performance also suggests that the company is coping with tariffs, which Apple previously said would create a $1.4 billion headwind in the quarter.


Today's show features:
Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple’s last financial numbers
Bloomberg Tech Co-Host Ed Ludlow dissects Apple’s earnings report
Tom Narayan, Lead Equity Analyst, Global Autos at RBC Capital Markets, on Tesla earnings and the broader car market
Lauren Goodwin, Economist and Chief Market Strategist at New York Life Investments on geopolitical risks in markets and the weakening US dollar

The people, companies and trends shaping the global economy.
 Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.
 Apple Inc.&rsquo;s revenue in the holiday quarter trounced Wall Street estimates, driven by strong demand for the new iPhone 17, growth in services and a rebound in China.
 Revenue jumped 16% to $143.8 billion in the period that ended Dec. 27, setting a record, the company said in a statement Thursday. Analysts had estimated $138.4 billion on average, according to data compiled by Bloomberg. Apple&rsquo;s own projections were for an increase 10% to 12%.
 &ldquo;IPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment,&rdquo; Chief Executive Officer Tim Cook said in the statement.
 The results reflect the success of Apple&rsquo;s latest iPhone, a product line that accounts for roughly half its revenue. Higher-end versions of the device have been especially popular, helping further fuel sales and profit for the company.
 Apple&rsquo;s renewed growth should help ease concerns about its artificial intelligence push, which is getting an overhaul this year after recent stumbles. The performance also suggests that the company is coping with tariffs, which Apple previously said would create a $1.4 billion headwind in the quarter.
 Today's show features:
<ul>
<li>Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple&rsquo;s last financial numbers</li>
<li>Bloomberg Tech Co-Host Ed Ludlow dissects Apple&rsquo;s earnings report</li>
<li>Tom Narayan, Lead Equity Analyst, Global Autos at RBC Capital Markets, on Tesla earnings and the broader car market</li>
<li>Lauren Goodwin, Economist and Chief Market Strategist at New York Life Investments on geopolitical risks in markets and the weakening US dollar</li>
</ul>

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Apple Sales Crush Estimates in Record Quarter for the iPhone

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