Apple beats revenue and profit estimates on iPhone sales growth

Apple shares rise in after-hours trading late Thursday               

Apple chief executive Tim Cook: Record for iPhone sales, thanks in part to picking up new users in markets such as India

Apple reported quarterly revenue and profit above analysts' expectations, with iPhone sales rising and wearables sales slipping less than feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook.

Apple said sales for its financial second quarter ended April 1 fell 2.5% to $94.84bn (€89.75bn), better than analyst expectations of a 4.4% decline to $93bn. Profit was flat at $1.52 per share. Apple shares rose 2% in after-hours trading.