Apple Surpasses Earnings Expectations as Services Revenue Reaches Record High

Apple Inc. delivered a stronger-than-expected fiscal third-quarter performance, driven by record services revenue and robust iPhone sales. The tech giant reported $94.04 billion in revenue, marking a 10% year-over-year increase and exceeding analyst projections. Net income ROSE to $23.43 billion, or $1.57 per share, up from $21.45 billion a year earlier.

Services revenue climbed 13% to an all-time high of $27.42 billion, while iPhone sales grew 13% to $44.58 billion. Mac sales increased 15%, though iPad revenue declined 8%. Apple's installed base of active devices hit a new record, signaling sustained ecosystem growth.

The earnings beat sent shares up 2% in after-hours trading, offering some relief after a 17% year-to-date decline through Thursday's close. The results underscore Apple's ability to monetize its vast user base even as hardware sales fluctuate.