Sales of ‘services’ help Apple beat earnings forecasts

Apple on Thursday reported profit of $27.5 billion in the recently ended quarter, powered by iPhone and services revenue.

The net income, along with revenue of $102.5 billion, beat market expectations, despite a hefty financial hit from US tariffs and a slight ebbing of revenue in China when compared with the same period a year earlier.

“Apple is very proud to report a September quarter revenue record,” chief executive Tim Cook said in a release.