Apple is still running a well-oiled moneymaking machine despite cooling demand for its hottest product, the iPhone.
The latest evidence of Apple’s prowess emerged Wednesday with the release of financial results for the July-September quarter.
Both Apple’s sales and revenue exceeded analyst estimates as the company’s newest iPhones got off to a better start than expected, even though the devices aren’t that much different last year’s models.
Revenue rose 2% from the same time last year to $64 billion, even though iPhone sales dropped 9%. Apple’s profit dipped 3% to $13.7 billion, but the earnings per share of $3.03 topped analyst projections.
In another encouraging sign, Apple’s sales in China also continued to recover from a sharp drop-off earlier this year. That helped ease worries that Apple might be bruised by President Donald Trump’s trade war with the world’s most populous country.