But the slumping economy is hurting sales of advertising, accessories and home products. Read more here
Apple said sales and profit for the quarter ended June 25 were US$83.0 billion and US$1.20 per share, above estimates of US$82.8 billion and US$1.16 per share, according to Refinitiv data.
“Fortunately, we have a very broad portfolio, so we know we’re going to be able to navigate that,” he added. Parts shortages will continue to limit Mac and iPad sales, Maestri said, though the impact has been easing.Article content The rising U.S. dollar has hit many companies such as Apple that generate substantial foreign revenue and are getting less cash back when they convert it. Apple said currency fluctuations would slash sales by 6 per cent in the current quarter.
It will be a key test of whether Apple’s years-long effort to diversify its business beyond the iPhone has paid off.
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