Apple profits beat estimates on strong iPhone sales, services

Apple announced yesterday recording unprecedented sales and profits in the first three months of this year boosted by strong iPhones and services.

Sales in North and South Americas jumped 19%, while it surged 10% in China.

Apple revenues rose 8.6% to $97.3 billion in the first quarter of 2022 compared to $92.89 billion a year earlier.

The company generated $50.6 billion revenues from iPhone sales, an increase of 5.5% from the same period of 2021.

Moreover, services generated revenues at $19.8 billion, an increase of 17%, beating estimates at $19.71 billion.

Apple recorded profits of $25 billion in the three months ended March 31^st 2022, or $1.52 per share, beating estimates at $32.2 billion or $1.43 per share.