Apple Posts $27.5B Q4 Profit Surpassing Expectations Amid Strong iPhone 17 Sales

Apple Inc. reported better-than-expected fourth-quarter results with a net profit of $27.5 billion on $102.5 billion in revenue, driven by strong demand for the iPhone 17 and growth in its services business. Despite iPhone sales reaching $49.03 billion, slightly below analyst estimates, the popularity of the redesigned iPhone 17, especially in the US, helped offset weaker sales in Greater China, which fell due to regulatory delays and a postponed launch of the iPhone 17 Air. Apple's services division, including Apple TV+, iCloud, and the App Store, showed significant growth, generating $28.7 billion and surpassing expectations. The company maintained pricing amid trade tariffs and faced competition from rivals with AI-enhanced devices, yet its customer loyalty and digital engagement contributed to a record September quarter revenue. Apple’s shares rose in after-hours trading following the results, reinforcing its position after recently surpassing a $4 trillion market valuation. CEO Tim Cook expressed confidence in continued momentum and an expected record-setting December quarter for the company and the iPhone segment.