Apple Revenue Rises Nearly 10% on Product Strength

Apple reported robust fiscal third-quarter results, with revenue reaching $94.04 billion—up nearly 10% year-over-year—and earnings per share of $1.57, both beating Wall Street expectations. Growth was driven by a 13% increase in iPhone sales as well as strong Mac and iPad performance, aided by U.S. customers making early purchases ahead of new tariffs. CEO Tim Cook said about 1% of revenue growth came from these early purchases, with $800 million in tariff costs this quarter and $1.1 billion projected for the next. Apple continues to shift its supply chain outside China to reduce trade risk, while performance in China and other markets remained strong. Despite a 15% stock decline this year and ongoing concerns about artificial intelligence innovation, the company forecast 'mid to high single digits' revenue growth next quarter, above analyst expectations. The results reassured investors, lifting Apple shares by about 3% in after-hours trading.