Apple Inc. has reported a stellar third quarter, with iPhone sales surpassing predictions and revenue growth forecasted for Q4. The iPhone 15 series has been a game-changer, outperforming its predecessor, the iPhone 14.
“We’re thrilled with the iPhone 15 family’s performance,” said Chief Financial Officer Luca Maestri. “It’s been a strong seller from day one, and we’re confident about its continued success.”
Apple’s shares rose nearly 1% in extended trading, outpacing other tech stocks. The company’s revenue is expected to grow at a similar rate to the 4.9% increase reported in the previous quarter, beating analysts’ estimates.
While iPhone sales in China, Apple’s third-largest market, declined 6.5%, Maestri remains optimistic. “Excluding foreign exchange effects, China sales fell less than 3%,” he said. “We’re performing well in China, despite economic softness.”
Apple has been offering discounts on iPhones in China to compete with local rivals like Huawei. The company is also set to launch a significant software upgrade for the iPhone this fall, featuring artificial intelligence capabilities, to stay ahead of the competition.
