Apple harvests record revenues as iPhone sales soar, eyes best holiday quarter ever

Apple has offered a bullish outlook for the crucial holiday season after releasing new iPhones and reporting a record annual profit, buoyed by strong smartphone revenue.

The company CFO, Kevan Parekh, said during a call with analysts that the company expected its “best quarter ever” in the three months to December, with revenue expected to rise 10 to 12 per cent year-over-year and iPhone revenue to grow double digits, beating analysts’ expectations, who had predicted just 6 per cent growth on an average.